Prepare the following adjusting entries in the General Journal and post to the General Ledger.

• Record Depreciation on Equipment, $1,000.
• Record Depreciation on Vehicle, $250.
• Supplies on hand at end of period, $2,000.
• Unearned Revenue earned, $20,000.
• Billed customers for services, $15,000.

Prepare the Income Statement.

Prepare the Statement of Shareholders Equity. 

Prepare the Balance Sheet.

Discuss the profitability and liquidity of the company.