Current Attempt in Progress Morrison Services Ltd. reports the following adjusted trial balance at August 31, 2021: MORRISON SERVICES LTD. Adjusted Trial Balance August 31, 2021 Debit Credit Cash $11,470 Accounts receivable 18,375 Supplies 3,300 Prepaid insurance 3,450 Equipment 26,700 Accumulated depreciation-equipment $5,905 Accounts payable 2.900 Salaries payable 2,000 Interest payable 1.520 Rent payable 1.400 Income tax payable 1,500 Deferred revenue 500 Bank loan payable, 2024 23.700 Common shares 5,400 Retained earnings 5.400 Dividends declared 600 Service revenue 55,305 19,400 12.990 Salaries expense Rent expense 23.00 5,400 5,400 600 55,305 Dan payure, ZUL Common shares Retained earnings Dividends declared Service revenue Salaries expense Rent expense Depreciation expense Supplies expense Interest expense Insurance expense Income tax expense Total 19.400 12,990 2,375 1,930 1,520 1,300 2,120 $105.530 $105,530 During the year, the company issued common shares for $1,200. (a) Your answer is correct. Prepare an income statement. MORRISON SERVICES LTD Statement of Income For the year ended August 31, 2021 MORRISON SERVICES LTD Statement of Income For the year ended August 31, 2021 Revenues Service Revenue 5530 Expenses Sales Expens Rent Expense 12990 Dennection EXO Supplies Expense 1920 Insurance Expense Interest Expense 1520 Total expenses 39515 Income before income tax : 1579 Income Tax Exe 21201 Net income $ Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.g.-45 or parenthesis, c.8. (45).) MORRISON SERVICES LTD. Statement of Changes in Equity Year Ended August 31, 2021 Common Shares Retained Earnings Total Equity Balance, August 31, 2021 Balance, September 1, 2020 Net income Issued common shares Dividends Declared Net loss LULUULO