PROBLEM 4-4A Optional work sheet and financial statements Heritage Company offers legal consulting advice to death-row inmates. Heritage Company prepared the following trial balance at April 30, 2006, the end of the cur- rent fiscal year: Objectives 2, 3, 4 Heritage Company Trial Balance April 30, 2006 Cash Accounts Receivable._.... 10,500 P.A.S.S Prepaid Insurance.. Supplies. . Land . 4. Net loss: $6,720 . . 1,350 50,000 Building uilding 50,700 Equipment ...92,700 36,300 Accounts Payable. 6,500 Unearned Rent 3,000 212,500 Shelby Powers, Capital Shelby Powers, Drawing . Fees Revenue . Salaries and Wages Expense . . Advertising Expense. Utilities Expense.. Repairs Expense Miscellaneous Expense . ..-. 191,000 . . 96,200 63,200 18,000 . 500,000 The data needed to determine year-end adjustments are as follows: fees revenue at April 30 are $2,800. b. Insurance expired during the year is $450 c. Supplies on hand at April 30 are S650 d. Depreciation of building for the year is $1,620. e. Depreciation of equipment for the year is $3,500. f. Accrued salaries and wages at April 30 are $1,800. g. Unearned rent at April 30 is $1,500 a. Accrued Instructions 1. Optional: Enter the trial balance on a ten-column work sheet and complete the work sheet. Add accounts as needed. 2. Journalize the adjusting entires, adding accounts as needed. 3. Prepare an adjusted rial balance of April 30, 2006. 4. Prepare an income statement for the year ended April 30. 5. Prepare a statement of owners equity for the year ended April 30. No additional investments were made during the year 6. Prepare a balance sheet as of April 30 7. Compute the percent of total revenue to total assets for the year