Here are the account balances for Alpha Engineering Ltd. as of December 31, 2024:

• Sales Revenue: $200,000
• Wages Expense: $50,000
• Rent Expense: $15,000
• Utilities Expense: $7,000
• Insurance Expense: $3,000
• Equipment: $40,000
• Accounts Payable: $10,000
• Accounts Receivable: $5,000
• Cash: $8,000
• Notes Payable: $12,000
• Owner’s Equity: $30,000

Required:

1. Create a Trial Balance as of December 31, 2024.
2. Draft an Income Statement for the year ended December 31, 2024.
3. Prepare a Statement of Owner’s Equity for the year ended December 31, 2024.
4. Draft a Balance Sheet as of December 31, 2024.