Financial Statements The following trial balance is taken after one month of operation. TJ's Paint Service Trial Balance July 31, 20 - - DEBIT CREDIT ACCOUNT TITLE ACCOUNT NO. BALANCE BALANCE Cash 101 4,300 Accounts Receivable 122 1,100 Supplies 141 800 Paint Equipment 183 900 Accounts Payable 202 2,150 TJ Ulza, Capital 311 3,205 TJ Ulza, Drawing 312 500 Painting Fees 401 3,600 Wages Expense 511 900 Rent Expense 521 250 Phone Expense 525 50 Transportation Expense 526 60 Utilities Expense 533 70 183 eBook Transportation Expense 526 60 Utilities Expense 533 70 Miscellaneous Expense 549 25 8,955 8,955 1. Prepare an income statement. TJ's Paint Service Income Statement For Month Ended July 31, 20-- Check My Work 2. Prepare a statement of owner's equity. TJ's Paint Service Statement of Owner's Equity For Month Ended July 31, 20-- Total investment 3. Prepare a balance sheet. TJ's Paint Service Balance Sheet July 31, 20- Assets Liabilities