Problem 5.3A (Static) Preparing financial statements from the worksheet. LO 5-4 The completed worksheet for Chavarria Corporation as of December 31, 20x1, after the company had completed the first month of operation, appears below Account and Cash Accounts receivable Supplies Prepaid advertising Equipment Memulated depreciation Equipment Accounts payable Isabel Chavarria, Capital Isabel Chavarria, Drawing Yes Income Supplies expense Advertising expense Depreciation expense-aprent falaries expense tities expense Totale Net Income CHAVEIR CORPORATION Worksheet Month Ended December 31, 20X1 Adjusted Trial Trial balance Ad astinents Balance Debit Credit Debit Credit Debit Credit 78,200 72,200 13,000 13.000 12.100 7.000 5,100 20.400 3.400 17.000 85,000 35,000 1,700 1,700 13,000 13.000 109,000 109,000 3,200 8.200 115,500 115,500 7.000 7.000 3,400 3,400 1,700 1.700 17,800 17.000 2.800 2,000 237,500 237.500 12,100 12,100 239,200 239,200 Income Statement Balance sheet Debit Credit DOBLE Credit 78.200 13.000 5.100 17.000 35,000 1,700 13,000 10.000 W. 200 135,500 7.000 3.400 1.700 17.00 2,100 32,700 115,500 206,500 123,700 02.100 115.500 115,500 206.500 306,500 Required: 1. Prepare an income statement 2. Prepare a statement of owner's equity. The owner made no additional investments during the month 3. Prepare a balance sheet You skipped this question in the previous attempt. Salaries expense Utilities expense 17,000 2,800 237.500 17,000 2,800 12.100 12,100 239,200 239,200 237.500 - 17,800 2.000 32,700 115,500 206,500 123,700 52,800 2.000 215,500 115,500 206,500 206.500 Net Income Required: 1. Prepare an income statement 2. Prepare a statement of owner's equity. The owner mode no additional Investments during the month. 3. Prepare a balance sheet Analyze of the adjustment to Prepaid Advertising had been $6,800 instead of $3,400, what net income would have resulted? Complete this question by entering your answers in the tabs below. Required Required 2 Required Analyse If the adjustment to Prepaid Advertising had been 56,800 instead of $3,400, what net income would have resulted? Norincome