Question No. 1 Reno De Filippis has been operating the De Filippis Limousine Service for the past year and a half. De Filippis Limousine Service's adjusted trial balance as of August 31, 2017 is as follows. De Filippis Limousine Service Adjusted trial balance 31st August 2017 Details Dr. Cr. Cash $171,000 Account Receivables 9,400 Prepaid studio rent 3,000 Unexpired insurance 7,200 Supplies 5,00 Equipment 18,000 Accumulated dep: equipment 7,200 Notes payable 10,000 Accounts Payables 3,200 Salaries payable 4,000 Income taxes payable 6,000 Unearned studio revenue 8,800 Capital stock 100,000 Retained earnings 40,000 Dividends 6,000 Service Revenue Earned Your Registration No. Salaries expense 85,000 Supply expense 3,900 Rent expense 12,000 Insurance expense 1,900 Advertising expense 500 Depreciation expense: equipment 1,800 Interest expense 900 Income taxes expense 23,000 Total $344,200 $344,200 Required: A. Prepare an Income Statement for the year ended August 31, 2017. B. Statement of Retained Earnings for the year ended August 31, 2017. C. Also, prepare the Balance Sheet dated August 31, 2017. Question No. 1 Reno De Filippis has been operating the De Filippis Limousine Service for the past year and a half. De Filippis Limousine Service's adjusted trial balance as of August 31, 2017 is as follows. De Filippis Limousine Service Adjusted trial balance 31st August 2017 Details Dr. Cr. Cash $171,000 Account Receivables 9,400 Prepaid studio rent 3,000 Unexpired insurance 7,200 Supplies 5,00 Equipment 18,000 Accumulated dep: equipment 7,200 Notes payable 10,000 Accounts Payables 3,200 Salaries payable 4,000 Income taxes payable 6,000 Unearned studio revenue 8,800 Capital stock 100,000 Retained earnings 40,000 Dividends 6,000 Service Revenue Earned Your Registration No. Salaries expense 85,000 Supply expense 3,900 Rent expense 12,000 Insurance expense 1,900 Advertising expense 500 Depreciation expense: equipment 1,800 Interest expense 900 Income taxes expense 23,000 Total $344,200 $344,200 Required: A. Prepare an Income Statement for the year ended August 31, 2017. B. Statement of Retained Earnings for the year ended August 31, 2017. C. Also, prepare the Balance Sheet dated August 31, 2017