Sanchez Mechanic Services prepared the following work sheet for the year ended March 31, 20--.

Required:

1. Complete the work sheet. If no amount is required, leave the entry box blank.

Sanchez Mechanic Services
Work Sheet
For Year Ended March 31, 20--
		TRIAL BALANCE		ADJUSTMENTS		ADJUSTED TRIAL BALANCE		INCOME STATEMENT		BALANCE SHEET
	ACCOUNT NAME	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT
1	Cash	7,300.00				7,300.00						1
2	Accounts Receivable	1,520.00				1,520.00						2
3	Supplies	855.00			(e) 445.00	410.00						3
4	Prepaid Insurance	2,360.00			(a) 535.00	1,825.00						4
5	Equipment	10,200.00				10,200.00						5
6	Accumulated Depreciation, Equipment		4,105.00		(b) 455.00		4,560.00					6
7	Truck	19,060.00				19,060.00						7
8	Accumulated Depreciation, Truck		4,750.00		(c) 510.00		5,260.00					8
9	Accounts Payable		2,140.00				2,140.00					9
10	J. Sanchez, Capital		21,550.00				21,550.00					10
11	J. Sanchez, Drawing	3,720.00				3,720.00						11
12	Fees Earned		18,450.00				18,450.00					12
13	Salary Expense	1,950.00		(d) 410.00		2,360.00						13
14	Advertising Expense	1,385.00				1,385.00						14
15	Truck Operating Expense	1,025.00				1,025.00						15
16	Utilities Expense	1,415.00				1,415.00						16
17	Miscellaneous Expense	205.00				205.00						17
18		50,995.00	50,995.00									18
19	Insurance Expense			(a) 535.00		535.00						19
20	Depreciation Expense, Equipment			(b) 455.00		455.00						20
21	Depreciation Expense, Truck			(c) 510.00		510.00						21
22	Salaries Payable				(d) 410.00		410.00					22
23	Supplies Expense			(e) 445.00		445.00						23
24				2,355.00	2,355.00	52,370.00	52,370.00					24
25	Net Income											25
26												26

2. Prepare an income statement.

Sanchez Mechanic Services
Income Statement
For Year Ended March 31, 20--
Revenue:
		$
Expenses:
	$
Total Expenses
Net Income		$

3. Prepare a statement of owner's equity. Assume that there was an additional investment of $8,250 on March 13.

Sanchez Mechanic Services
Statement of Owner's Equity
For Year Ended March 31, 20--
		$
	$
Subtotal	$
		$

4. Prepare a balance sheet.

Sanchez Mechanic Services
Balance Sheet
March 31, 20--
Assets
		$
	$
	$
Total Assets		$
Liabilities
	$
Total Liabilities		$
Owner's Equity
Total Liabilities and Owner's Equity		$