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: Demo Consulting 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 10,820 10,820 Accounts Receivable 25,770 25,770 Supplies 2,730 2,290 440 Land 22,160 22,160 Office Equipment 20,870 20,870 Accumulated Depreciation 2,860 1,370 4,230 Accounts Payable 6,960 6,960 Salaries Payable 340 340 Common Stock 8,700 8,700 Retained Earnings 17,590 17,590 Dividends 3,350 3,350 Fees Earned 70,460 70,460 Salary Expense 18,810 340 19,150 2,290 Supplies Expense 2,290 Depreciation Expense 1,370 1,370 Miscellaneous Expense 2,060 2,060 106,570 106,570 4,000 4,000 108,280 108,280 Based on the preceding spreadsheet, prepare an income statement for Demo Consulting. Demo Consulting Income Statement For the Year Ended August 31, 2049 Fees earned 70,460 19,150 Expenses: Salary expense Supplies expense Depreciation expense 2,290 1,370 Miscellaneous expense 2,060 Total expenses 24,870 Net income 45,590 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 August 31, 2049, $3,400 of additional con 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, 20Y8 17,590 Issued common stock Net income Dividends 3,350 Balances, August 31, 2019 8,700 Feedback 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 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 Property, plant, and equipment: $0 Total property, plant, and equipment Total assets Liabilities Current liabilities: Total liabilities Stockholders' Equity. Total stockholders' equity Total liabilities and stockholders' equity