On August 1, 2020, Mark Diamond began a tour company in the Northwest Territories called Millennium Arctic Tours. The following occurred during the first month of operations: Aug. 1 Purchased office furniture on account; $4,700. 1 Mark Diamond invested $6,700 cash into his new business. 2 Collected $3,450 in advance for a three-week guided caribou watching tour beginning later in August. 3 Paid $5,550 for six months' rent for office space effective August 1. 4 Received $2,700 for a three-day northern lights viewing tour just completed. 7 Paid $1,350 for hotel expenses regarding the August 4 tour. 15 Mark withdrew cash of $600 for personal use. 22 Met with a Japanese tour guide to discuss a $135,000 tour contract, 31 Paid wages of $1,270. Assume Mark Diamond uses the straight-line method to depreciate the assets. 4. Prepare an adjusted trial balance. MILLENNIUM ARTIC TOURS Adjusted Trial Balance August 31, 2020 Account Title Debit Credit es 5-a. Prepare a income statement for month ended August 31, 2020. MILLENNIUM ARTIC TOURS Income Statement For Month Ended August 31, 2020