The adjusted trial balance for Turnquist Company is shown below. TURNQUIST COMPANY Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,100 $10,100 Accounts Receivable 8,600 10,000 Supplies 2,500 600 Prepaid Insurance 3,800 2,500 Equipment 14,300 14,300 Accumulated Depreciation-Equipment $ 3,600 $ 4,400 Accounts Payable 5,800 5,800 Salaries and Wages Payable 0 1,100 Unearned Rent Revenue 1,400 700 Owners Capital 15,600 15,600 Service Revenue 33,800 35,200 Rent Revenue 11,200 11,900 Salaries and Wages Expense 16,900 18,000 Supplies Expense 0 1,900 Rent Expense 15,200 15,200 Insurance Expense 0 1,300 Depreciation Expense 0 800 $71,400 $71,400 $74,700 $74,700 Prepare the income statement for the year. TURNQUIST COMPANY Income Statement $

1. Prepare Income statement for the year 2.Prepare owners Equity for the year 3.Prepare balance sheet at August 31 4.Liability and owners Equity