PERFORMANCE TASK #3 Gray Electronic Repair Services Adjusted Trial Balance December 31, 2017 Given the Adjusted Trial Balance Gray Electronic Repair Services, Prepare a Statement of Changes in Equity/ Owner's Equity. Credit Debit $ 7,480.00 3,700,00 600.00 3,000.00 15,000.00 Account Title Cash Accounts Receivable Service Supplies Furniture and Foctures Service Equipment Accumulated Depreciation Accounts Payable Utilities Payable Loans Payable Mr. Gray, Capital Mr. Gray, Drawing Service Revenue Rent Expense Salaries Expense Taxes and licenses Utilities Expense Service Supplies Expense Depreciation Expense Totals 5 720.00 9,000.00 1,800.00 12.000.00 13,200.00 7,000.00 9,850.00 1,500.00 3.500.00 370.00 1,800.00 900.00 720.00 $ 46,570.00 $.46,570.00 DISCUSSING NEW CONCEPT SUMMARY: 1. Draw up the income statement and get the profit. 2. Put this profit into the statement of owner's equity and get the closing balance of owner's equity. 3. Take this closing balance and put it into the balance sheet