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Question 5 of 5 Current Attempt in Progress The adjusted trial balance for Sandhill's Animations is presented below. SANDHILL COMPANY Adjusted Trial Balance December 31,

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Question 5 of 5 Current Attempt in Progress The adjusted trial balance for Sandhill's Animations is presented below. SANDHILL COMPANY Adjusted Trial Balance December 31, 2021 Debit Credit Cash $3,400 4.700 2,700 49,000 $18,375 5.400 Accounts receivable Prepaid expenses Equipment Accumulated depreciation-equipment Accounts payable Unearned revenue M. Sandhill, capital M. Sandhill, drawings Service revenue Rent expense 10,300 19,450 16,000 64.800 8.500 Salaries expense 25,500 2,400 Supplies expense Depreciation expense 6,125 $118,325 $118,325 Prepare an income statement for the year. Mr. Sandhill invested $5,500 cash in the business during the year. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (451) SANDHILL COMPANY Income Statement $ $ $ Prepare a statement of owner's equity for the year, Mr. Sandhill invested $5,500 cash in the business during the year. (List items that increase owner's equity first.) SANDHILL COMPANY Statement of Owner's Equity $ Stat M. Sandhill, Capital, December 31, 2021 Investments Drawings Expenses M. Sandhill, Capital, January 1, 2021 Total Expenses Total Revenues Revenues Profit/(Loss) Drawings Expenses M. Sandhill, Capital, January 1, 2021 Total Revenues Profit/(Loss) M. Sandhill, Capital, December 31, 2021 Total Expenses Investments Revenues Prepare a classified balance sheet at December 31, 2021. (List Current Assets in order of liquidity) SANDHILL COMPANY Balance Sheet Assets Liabilities and Owner's Equity $ Liabilities and Owner's Equity > > $ eTextbook and Media Balance Sheet Assets Accounts Receivable Accounts Payable Accumulated Depreciation-Equipment M. Sandhill, Capital M. Sandhill, Drawings Cash Depreciation Expense Debt Investments Equipment Interest Revenue Interest Payable Interest Expense Notes Payable Prepaid Expenses Patents Rent Expense Service Revenue Salaries Expense Supplies Expense $

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