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, 2019: During the year ended August 31, 2019, $15,000 of additional common stock was issued. Demo Consulting End-of-Period Spreadsheet For the Year Ended August 31, 2019 Unadjusted Trial Balance Dr. Cr. Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr. Account Title Cash Accounts Receivable Supplies 182,500 234,500 27,600 775,000 22,500 182,500 234,500 5,000 775,000 400,000 Land 400,000 Office Equipment Accumulated Depreciation Accounts Payable 11,800 60,200 41,500 72,000 41,500 13,500 Salaries Payable 13,500 Common Stock Retained Earnings Dividends 100,000 810,000 100,000 810,000 30,000 30,000 Fees Earned 1,480,000 1,480,000 829,600 Salary Expense Supplies Expense Depreciation Expense Miscellaneous Expense 13,500 22,600 11,800 843,100 22,600 11,800 12,500 12,500 2,491,700 2,491,700 47,900 47,900 2,517,000 2,517,000 Based on the preceding spreadsheet, prepare an income statement for Demo Consulting. Demo Consulting Income Statement 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 $ 1480,000 Expenses: Salary expense 143,100 Supplies expense 22,600 Depreciation expense 11,800 Miscellaneous expense 12,500 Total expenses 890.000 Net income 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. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. If an amount box does not require Demo Consulting Statement of Stockholders' Equity For the Year Ended August 31, 2019 Common Stock Retained Earnings Total Balances, September 1, 2018 0000 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 Demo Consulting Balance Sheet August 31, 2019 Assets Current assets: Total current assets O O DOO Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current abilities: O Tatal liabilities Stockholders' Equity DO Tatal stockholders' equity Tatal liabilities and stockholders' equity