eBook Show Me How Calculator Cr. Dr. Cr. Financial Statements from the End-of-Period Spreadsheet Demo Consulting is a consulting firm owned and operated by Jesse Flatt. The following end-of-period spreadsheet was prepared for the year ended August 31, 2049: Demo Consulting End-of-Period Spreadsheet For the Year Ended August 31, 2049 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Dr. Cr. Cash 11,270 11,270 Accounts Receivable 26,840 26,840 Supplies 2,850 2,390 460 Land 23,350 23,350 Office Equipment 22,010 22,010 Accumulated Depreciation 2,980 1,420 4,400 Accounts Payable 7,250 7,250 Salaries Payable 350 350 Common Stock 9,000 9,000 Retained Earnings 18,380 18,380 Dividends 3,490 3,490 Random Mind 11:19 AM 9/30/2020 hp n) eBook Show Me How Calculator unatojustu Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 11,270 Accounts Receivable 11,270 26,840 460 26,840 2,850 23,350 Supplies Land 2,390 22,010 Office Equipment Accumulated Depreciation 23,350 22,010 1,420 4,400 Accounts Payable 2,980 7,250 7,250 350 350 9,000 9,000 18,380 18,380 3,490 3,490 Salaries Payable Common Stock Retained Earnings Dividends Fees Earned Salary Expense Supplies Expense Depreciation Expense Miscellaneous Expense 74,210 74,210 19,860 350 20,210 2,390 2,390 1,420 1,420 2,150 2,150 111,820 111,820 4,160 4,160 113,590 113,590 11:1 9/30 hp eBook Show Me How Calculator Based on the preceding spreadsheet, prepare an income statement for Demo Consulting. Demo Consulting Income Statement For the Year Ended August 31, 2019 Fees earned 74,210 Expenses: Salary expense 20,210 Supplies expense 2.390 Depreciation expense 1.420 Miscellaneous expense 2,150 Total expenses 113,590 X Net income 39,380 X Feedback Check My Work Revenue and expense accounts flow into the income statement. Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. During the year ended Aug 31, 2049, $3,600 of additional common stock was issued. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were Raanian O RI 11:20 9/30/2 eBook Show Me How Calculator Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. During the year ended August 31, 2019, $3,600 of additional common stock was issued. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Demo Consulting Statement of Stockholders' Equity For the Year Ended August 31, 2049 Common Stock Retained Earnings Total Balances, September 1, 2048 Issued common stock Net income 00000 Dividends Balances, August 31, 2049 h. Check My Work The statement of stockholders' equity shows the beginning balances of common stock and retained earnings. The common stock balance will be increased by any stock issued during the period, and retained earnings will be increased by any net income and decreased by any net losses and dividends. Based on the preceding spreadsheet, prepare a balance sheet for Demo Consulting. O RI 11:21 AM 9/30/200 upplication) eBook Show Me How Calculator Based on the preceding spreadsheet, prepare a balance sheet for Demo Consulting. Demo Consulting Balance Sheet August 31, 2019 Assets Current assets: Cash Accounts receivable Supplies O Total current assets Property, plant, and equipment: Land office equipment Accumulated depreciation Book value office equipment Total property, plant, and equipment Total assets Liabilities Current liabilities: eBook Show Me How Calculator Liabilities Current liabilities: Accounts payable Salaries payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Feedback Check My Wor Assets (including contra-assets like Accumulated Depreciation), liabilities, and the Retained Earnings Account flow into the balance sheet. Foad VW Partially correct