Repair Shop
Trial Balance
At December 31, 2021
Account Name	Debit	Credit
Cash	84,400
Accounts Receivable	1,000
Notes Receivable	3,000
Supplies	5,500
Prepaid Insurance	4,500
Land	75,000
Equipment	40,000
Accumulated Depreciation-Equipment		1,250
Furnitures and Fixtures	15,000
Accumulated Depreciation-Furnitures & Fixtures		750
Accounts Payable		15,000
Notes Payable		30,000
James, Capital		175,000
James,Drawing	2,000
Service Revenue		25,000
Salaries Expense	6,400
Supplies Expense	4,500
Utilities Expense	1,500
Depreciation Expense-Equipment	1,250
Depreciation Expense-Furnitures & Fixtures	750
Interest Expense	1,000
Miscellaneous Expense	1,200
Total	247,000	247,000

Required:

1. Prepare a Balace Sheet
2. Prepare an Income Statement
3. Prepare a Statement of Changes in Owner's Equity