PLR RPE Consulting Trial Balances.xex RPE Consulting Trial Balances July 31, 2020 Unadjusted Trial Balance Adjustments Account Dr. Cr Dr. Cr. Accounts payable $9.300 Adjusted Trial Balance Dr. NO Or. $ 10.200 8 Accounts receivable $ 12.000 $ 22.460 Accumulated depreciation, office equipment 12.000. 18.000 10 Advertising expense 13,800 12 Cash 27,000 14,700 27,000 12 Consulting revenue 156,000 168.160 13 Depreciation expense, office equipment a 6.000 14 Insurance expense) 15 interest expense 1,400 2.440 2.200 16 Interest payable 17 Notes payable 44,000 800 44,000 8 Office equipment 92.000 92.000 14 Office supplies 18,000 3,000 20 Office supplies expense 15,000 21 Prepaid insurance 7,320 4,880 22 Ray Edds, capital 28,420 28,420 23 Ray Edds, withdrawals 10,000 10.000 24 Rent expense 25 Salaries expense 13.200 13.200 71,000 77,600 26 Salaries payable 27 Unearned consulting revenue 28 Totals O 16,000 6,600 14,300 $265,720 $265,720 $290.480 $290,480 Required Prepare the company's income statement, statement of changes in equity, and balance sheet. Assume that the owner, Ray Edds, invested $20,000 during the year ended July 31, 2020. Analysis Component: VITAJUMUD 2. Analyze the unadjusted and adjusted trial balances and identify the adjustments that must have been made by inserting them in the two middle columns. Label each entry with a letter. 3 if the adjustments had not been recorded, identify the net overstatement/understatement of each com- ponent of the accounting equation