Larry Spanos opened a computer services business titled "All-in-One Computer Services Requirements: 1. Journalized cach transaction. Explanation not required. May 1 Mr. Spanos contributed S15,000 to the new business May 2 Paid 6 months of rent in advance S4,200. May 4 Purchased office supplies on account $1,000 May 5 Borrowed $5,000 from the bank for business use. May 6 Provided computer services on account $2,000. All-in-One Computer Services General Journal Account Titles and Description ate Debit T Credit Accounts Payable Spanos, Capital Prepaid Rent Notes Payable Service Revenue Office Supplies Accounts Receivable Account Names Cash Adjusted Trial Balance Debit Credit $4,400 3,900 1,100 2,550 30,200 $1,850 5,100 650 32,900 Accounts Receivable Prepaid Rent Office Supplies Equipment Acc. Depr. -Equip. Accounts Payable Salaries Payable Pryor, Capital Pryor, Withdrawals Service Revenue Depr. Expense-Equip. Salaries Expense Rent Expense Utilities Expense Supplies Expense Total 2,900 9,600 350 2,750 700 700 550 $50,100 $50,100 From the adjusted Trial Balance prepare the Financial Statements as noted below: Data Solution Income Statement For the month ended December 31, 2018 Revenues: Expenses: Total Expenses Net Income Data Solution Statement of Owner's Equity For the month ended December 31, 2018 Pryor Capital, December 31, 2018 Data Solution Balance Sheet December 31, 2018 Assets Current Assets: Cash Accounts Receivable Office Supplies Prepaid Rent Total Current Assets Property, Plant, and Equipment Total Property, Plant, & Equip. Total Assets Liabilities Current Liabilities: Total Liabilities Owner's Equity Total Liabilities & O'Equity