(Note This assagnment is meant to be completed in two parts. The spreadsheet download link is found in Part 1, and the completed spreadsheet is necessary to complete Part 2) chapter. During Max. Kelly Consulting emtered into transactions. In Part 1 of this protilem, the accounting cycle was completed up through the preparation of the adusted trial balance Required: 8. Having complefed the end of period work aheet in Pat 1 , use the adpusted fral botance ffoures to prepare an income statement, a atatement of prepare an income statement, a statement of owner's equily, and a balance sheet. Ble sure fo read We instructions above rach staternent carefuly 9. indent a credit entry wben o credit anount is entend. Congagenow 10 Piepare a post-closing tral bolasce. Kelly Pitney began her consulting business, Kelly Consulting, on April 1,20Y5, The accounting cycle for Keliy Consulting for Apol, including financial statements, was illustrated in this chapter. Dunng May, Kolly Consulting entered into the following transactions: May 3 Received cash from clichts as an advance payment for services to be provided and recorded it as unearned tees, $4,500 5 Received cash from clients on account, $2,450 9 Paid cash for a newspaper advertisement, $225 13 Paid Office Station Co for part of the debt incurred on April 5, 5640 15 Provided services on account for the period May 1-15, 99,180. 16 Pad part-time receptionist for two weeks' salary including the amount owed on April 30, $750 17. Received cash from cash clients for lees eamed duning the period May 1-16, 58,360 Record the following transactons on Page 6 of the poumal May 20 Parchased supplies on account $735 21 Provded services on account for the penios May 10-20,34,a20