End-of-Period Spreadsheet For the Year Ended August 31, 2019 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 8,450 8,450 Accounts Receivable 20,120 20,120 Supplies 1,790 340 Land 2,130 17,100 16,100 17,100 16,100 Office Equipment Accumulated Depreciation 2,230 1,070 3,300 5,430 5,430 Accounts Payable 260 260 Salaries Payable 6,800 6,800 Common Stock 13,720 13,720 Retained Earnings 2,620 Dividends 2,620 54,840 54,840 Fees Earned 260 15,150 14,890 1,790 1,790 Salary Expense Supplies Expense Depreciation Expense 1,070 1,070 1,610 1,610 Miscellaneous Expense 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 54,840 Expenses: Salary expense 15,150 Supplies 1,790 Depreciation expense 2,620 Accumulated depreciation 1,070 Total expenses 20,630 34,210 Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. Dur common stock was issued. If an amount box does not require an entry, leave it blank. If a net loss is incurr number using a minus sign. Demo Consulting Statement of Stockholders' Equity Ended August 31, 2019 Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. During the year e common stock was issued. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividend number using a minus sign. Demo Consulting Statement of Stockholders' Equity For the Year Ended August 31, 2019 Common Stock Retained Earnings Total Balances, September 1, 2018 6,800 X 13,720 20,520 x Issued common stock 2,700 23,220 x Net Income 34,210 X 57,430 x Dividends 2,620 X 60,050 x Balances, August 31, 2019 $ 12,120 47,930 161,220 x X Feedback Check My Work The statement of stockholders' equity shows the beginning balances of common stock and retained eamings. The stock issued during the period, and retained earnings will be increased by any net income and decreased by any Based on the preceding spreadsheet, prepare a balance sheet for Demo Consulting, Consulting UM LIL plecully Spiedosneet, prepare a balance sheet for Demo Consulting. Demo Consulting Balance Sheet August 31, 2019 Assets Current assets: Cash 8,450 Accounts receivable 20,120 Supplies 340 Total current assets 28,910 Property, plant, and equipment: Land Office equipment 16.100 Accumulated depreciation Book value-office equipment Total property, plant, and equipment Total assets ILI Accumulated depreciation Book value-office equipment Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable 5,430 Salaries payable Total liabilities Stockholders' Equity Common stock 6,8007 Retained earnings 9,500 x Total stockholders' equity Total liabilities and stockholders' equity Feedback Chwork Assets (including contra-assets like Accumulated Depreciation), liabilities, and the Retained Earnings Account