In July, T. Reynolds, established Reynolds' Business Advisory Services. The Trial Balance for July 31 is presented below. From the Trial Balance, prepare the following financial statements: 1. Income Statement for the month ended July 31 2. Statement of Owner's Equity for the month ended July 31 3. Balance Sheet as of July 31. Reynolds' Business Advisory Services Trial Balance July 31, 20xx Account Name Debit Credit Cash Supplies Prepaid Insurance Equipment Furniture and Fixtures 16,284 535 1,375 15,700 725 s Payable 11,220 25,000 Reynolds, Capital T. Reynolds, Drawing Business Advisory Service R Wages Expense Rent Expense Utilties Expense Miscellaneous Expense 700 2,562 1200 1,750 438 75 38,782 38,782