The adjusted trial balance for Lloyd Construction as of December 31, 2020, follows: No Account 101 104 Short-term investments 126 Supplies 149 Notes receivable 167 Equipment 168 Accumulated depreciation, equipment 173 Building 174 Accumulated depreciation, building 183 Land 193 Franchise 201 Accounts payable 203 Interest payable 233 Unearned professional revenue Long-term notes payable 381 Amar Lloyd, capital 32 Amar Lloyd, withdrawals 481 Professional revenue 486 Renil Tevenue seG Depreciation expense, building Depreciation expense, quien 623 Wages expense 533 Interest expense 8:37 Insurance expense 1552 Supplies expenser 88 Telephone expense 699 Ulities Expense Debit Credit $ 16,400 21,499 8,000 44,000 82,000 $ 40,890 264, 689 143,000 88,600 33,000 17,480 140 27,40e 136,000 3,400 210.480 28.869 60,400 1, 288 4, An analysis of other Information reveals that Lloyd Construction is required to make a $47.000 payment on the long-term notes payable during 2021. The notes receivable are due May 1, 2022 Also. Amar Lloyd Invested $79.000 cash early in 2020 Prepare an Income statement for the year ended December 31, 2020. LLOYD CONSTRUCTION Income Statement For Year Ended December 31, 2020 Revenues: Professional revenue 210,480 Rent revenue 28,000 S 238.480 S Total revenues Operating expenses Utilities expense Telephone expense Supplies expense Insurance expense Interest expense Wages expense Depreciation expense, equipment Depreciation expense, building 7,600 4.800 13,200 18.400 660 64.400 8.400 20.400 Total operating expenses Profit 137.850 100.630 Prepare a statement of changes in equity for the year ended December 31, 2020. GD 18,630 LLOYD CONSTRUCTION Statement of Changes in Equity For Year Ended December 31, 2020 Amar Lloyd, capital, January 1 Add: Investments by owner S 79,000 Add. Profit Total Add: Withdrawals by owner Amar Lloyd. capital, December 31 $ 179.630 198.280 3.400 174,630 s Prepare a balance sheet at December 31, 2020, Accets Current assots Short-term Investments Supplies Cash 21.400 8.000 16,400 $ 45.800 44.000 B8.000 $ 33.000 Total Quant assets Non-cument investments Notes receivable Land Property, plant and equipment Franchise Building Lass: Accumulated depreciation Esant LASG Accumuto ton Total property, plant and out Intangible at 264.000 143.000 82.000 264.000 820003 140 000) $ 2.57.000 Totaanaa 5 3.000 Liabilities Cunettes Equity The adjusted trial balance for Lloyd Construction as of December 31, 2020, follows: No Account 101 104 Short-term investments 126 Supplies 149 Notes receivable 167 Equipment 168 Accumulated depreciation, equipment 173 Building 174 Accumulated depreciation, building 183 Land 193 Franchise 201 Accounts payable 203 Interest payable 233 Unearned professional revenue Long-term notes payable 381 Amar Lloyd, capital 32 Amar Lloyd, withdrawals 481 Professional revenue 486 Renil Tevenue seG Depreciation expense, building Depreciation expense, quien 623 Wages expense 533 Interest expense 8:37 Insurance expense 1552 Supplies expenser 88 Telephone expense 699 Ulities Expense Debit Credit $ 16,400 21,499 8,000 44,000 82,000 $ 40,890 264, 689 143,000 88,600 33,000 17,480 140 27,40e 136,000 3,400 210.480 28.869 60,400 1, 288 4, An analysis of other Information reveals that Lloyd Construction is required to make a $47.000 payment on the long-term notes payable during 2021. The notes receivable are due May 1, 2022 Also. Amar Lloyd Invested $79.000 cash early in 2020 Prepare an Income statement for the year ended December 31, 2020. LLOYD CONSTRUCTION Income Statement For Year Ended December 31, 2020 Revenues: Professional revenue 210,480 Rent revenue 28,000 S 238.480 S Total revenues Operating expenses Utilities expense Telephone expense Supplies expense Insurance expense Interest expense Wages expense Depreciation expense, equipment Depreciation expense, building 7,600 4.800 13,200 18.400 660 64.400 8.400 20.400 Total operating expenses Profit 137.850 100.630 Prepare a statement of changes in equity for the year ended December 31, 2020. GD 18,630 LLOYD CONSTRUCTION Statement of Changes in Equity For Year Ended December 31, 2020 Amar Lloyd, capital, January 1 Add: Investments by owner S 79,000 Add. Profit Total Add: Withdrawals by owner Amar Lloyd. capital, December 31 $ 179.630 198.280 3.400 174,630 s Prepare a balance sheet at December 31, 2020, Accets Current assots Short-term Investments Supplies Cash 21.400 8.000 16,400 $ 45.800 44.000 B8.000 $ 33.000 Total Quant assets Non-cument investments Notes receivable Land Property, plant and equipment Franchise Building Lass: Accumulated depreciation Esant LASG Accumuto ton Total property, plant and out Intangible at 264.000 143.000 82.000 264.000 820003 140 000) $ 2.57.000 Totaanaa 5 3.000 Liabilities Cunettes Equity