Suppose the business started in December 01, 2016.The adjusted trial balance of Personal Financial Planners

appears below. Using the information from the adjusted trial balance, you are to prepare for the month ending

December 31, 2016:

1. an income statement.

2. an owner's equity statement.

3. a classified balance sheet. (10 points)

Personal Financial Planners

Adjusted Trial Balance

December 31, 2016

Debit Credit

Cash $ 4,900

Accounts Receivable 2,300

Supplies 1,800

Equipment 14,000

Accumulated DepreciationEquipment $ 3,000

Accounts Payable 3,300

Unearned Service Revenue 6,000

Owner's Capital 14,600

Owner's Drawings 2,500

Service Revenue 4,500

Supplies Expense 700

Depreciation Expense 2,700

Rent Expense 2,500

$31,400 $31,400