his alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2020, year-end:

		Debit				Credit
Accounts payable					$	43,800
Accounts receivable	$	18,500
Accumulated depreciation, automobiles						68,800
Accumulated depreciation, equipment						20,300
Advertising expense		8,800
Automobiles		138,000
Cash		10,800
Depreciation expense, automobiles		13,000
Depreciation expense, equipment		3,900
Equipment		64,000
Revenue						235,800
Interest income						150
Interest expense		3,300
Interest payable						75
Interest receivable		300
John Conroe, capital						22,800
John Conroe, withdrawals		18,800
Land		34,000
Long-term notes payable						113,000
Notes receivable (due in 90 days)		79,000
Office supplies		3,800
Office supplies expense		12,800
Repairs expense, automobiles		8,200
Salaries expense		76,025
Salaries payable						5,300
Unearned revenue						10,800
Wages expense		27,600
Totals	$	520,825			$	520,825

Required: Use the information in the trial balance to prepare: a. The income statement for the year ended December 31, 2020.

b. The statement of changes in equity for the year ended December 31, 2020, assuming that the owner made additional investments of $14,000 during the year.

c. The balance sheet as of December 31, 2020. (Be sure to list the assets and liabilities in order of their liquidity.)