Paragraph Subtitle Title QUESTION III Styles (12 Marks) Steve Mossop runs Adworks which designs advertising programs for North American companies and began operations two years ago. The following information has been extracted from the trial balance worksheet of Adworks for its 2nd year of operation ended November 30, 2018. Adworks. (a proprietorship) Adjusted Trial Balance November 30, 2018 ACCOUNT DEBIT CREDIT Cash $ 11,000 Accounts receivable 11,770 Prepaid rent 3,130 Prepaid insurance 1,500 Printing press 27,600 Supplies 4,110 Accumulated amortization - printing press 10,600 Patents (will last until 2024) 7,000 Notes receivable, due November 29, 2019 11,000 Accounts payable 6,789 Notes payable, due December 31, 2018 34,000 Unearned consulting fees 2,100 Notes payable, due December 31, 2023 13,723 29,777 ** S Mossop, capital Amortization expense - printing press 7,500 S. Mossop, withdrawals 50,500 91,297 Ad consulting fee revenue 4,775 Insurance expense 19,200 Wage expense 21,500 Rent expense 7.701 Supplies expense $188.286 $ 188,286 Total ** Includes $10,000 investment in late December 2017 Required: In the sheets located on the next 2 pages, in good form (including appropriate headings), prepare the following financial statements for Adworks for the year ended November 30, 2018. 1 Income Statement (2 marks) 2 Statement of Owner's Equity (4 marks) 3. Balance Sheet (6 marks) NOTE: ENSURE YOU PROVIDE PROPERLY FORMATTED AND CLEARLY READABLE STATEMENTS