Problem 3 (20 points):

The adjusted trial balance of Ryan Financial Planners appears below.Using the information from the adjusted trial balance, prepare for themonthended December 31, 2020:

1. an income statement.

2. an owner's equity statement.

3. a balance sheet.

RYAN FINANCIAL PLANNERS

Adjusted Trial Balance

December 31, 2020

DebitCredit

Cash .........................................$ 4,200

Accounts Receivable ..........................2,800

Supplies .....................................500

Equipment ....................................16,500

Accounts Payable .............................2,300

Unearned Revenue .............................2,000

Ryan, Capital (as of December 1)..............18,100

Ryan, Drawings ...............................1,200

Service Revenue ..............................7,500

Supplies Expense..............................600

Salaries and Wages Expense ...................2,200

Rent Expense .................................1,900

$29,900$29,900

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There were no additional investments made by the owner in December 2020.