Preparing financial statements from the adjusted trial balance LO7 This alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2014, year-end: Required Use the information in the trial balance to prepare: Debit Credit Accounts payable........................................... Accounts receivable ....................................... Accumulated depreciation, automobiles......... Accumulated depreciation, equipment........... Advertising expense ....................................... Automobiles................................................... Cash .............................................................. Depreciation expense, automobiles................ Depreciation expense, equipment.................. Equipment ..................................................... Fees earned.................................................... Interest earned............................................... Interest expense............................................. Interest payable.............................................. Interest receivable .......................................... John Conroe, capital ...................................... John Conroe, withdrawals .............................. Land .............................................................. Long-term notes payable ............................... Notes receivable (due in 90 days) .................. Office supplies................................................ Office supplies expense.................................. Repairs expense, automobiles......................... Salaries expense ............................................. Salaries payable.............................................. Unearned fees................................................ Wages expense .............................................. Totals............................................................. $ 18,700 9,000 140,000 11,000 13,200 4,100 65,000 3,500 300 19,000 35,000 80,000 4,000 13,000 8,400 76,225 27,800 $528,225 $ 44,000 69,000 20,500 240,000 150 75 23,000 115,000 5,500 11,000 $528,225 a. b. c. The income statement for the year ended December 31, 2014. The statement of changes in equity for the year ended December 31, 2014, assuming that the owner made additional investments of $15,000 during the year. The balance sheet as of December 31, 2014. Analysis