The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. Income Statement Debit Credit 3,100 Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation-Equipment Accounts Payable Selena Cantu, Capital Selena Cantu, Drawing Fees Income Supplies Expense Advertising Expense Depreciation Expense-Equipment Salaries Expense Utilities Expense Totals Net Income CANTU CORPORATION Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 75,280 76,280 11,000 11,000 8,100 5,000 8,400 1,400 7,000 110,000 110,000 2,280 2,200 11,080 11,080 187,000 107,000 6,200 6,200 118,500 118,500 5,000 5,000 1,400 1,480 2,200 2,200 15,800 15,800 800 800 236,500 236,580 8,600 8,600 238,700 238,700 Balance Sheet Debit Credit 76,280 11,000 3,100 7,000 110,000 2,200 11,000 107,000 6,200 118,50 5,000 1,480 2,200 15,800 800 25,280 118,500 213,580 120,200 93,380 93,300 118,500 118,500 213,500 213,500 Required: 1. Prepare an income statement. 2. Prepare a statement of owner's equity. The owner made no additional Investments during the month. 3. Prepare a balance sheet. Analyze: If the adjustment to Prepaid Advertising had been $2,800 instead of $1,400, what net income would have resulted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare an income statement. CANTU CORPORATION Income Statement Month Ended December 31, 2019 Revenue Expenses Total expenses The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. Income Statement Debit Credit CANTU CORPORATION Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 76,200 76,200 11,000 11,000 8,100 5,000 3,100 8,400 1,400 7,000 110,000 110,000 2,200 11,000 11,000 107,000 187,000 6,200 6,200 118,500 118,500 5,000 5,000 1,480 1,400 2,200 2,200 15,800 15,800 800 800 236,500 236,500 8,600 8,600 238,700 238,700 Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation-Equipment Accounts Payable Selena Cantu, Capital Selena Cantu, Drawing Fees Income Supplies Expense Advertising Expense Depreciation Expense-Equipment Salaries Expense Utilities Expense Totals Net Income Balance Sheet Debit Credit 76,200 11,000 3,100 7,000 110,000 2,200 11,000 187,000 6,200 2,200 118,500 5,000 1,400 2,200 15,800 800 25,200 93,300 118,500 118,500 213,500 120,200 93,300 118,500 213,500 213,500 213,500 Required: 1. Prepare an income statement. 2. Prepare a statement of owner's equity. The owner made no additional investments during the month. 3. Prepare a balance sheet. Analyze: If the adjustment to Prepaid Advertising had been $2,800 instead of $1,400, what net income would have resulted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a statement of owner's equity. The owner made no additional investments during the month. CANTU CORPORATION Statement of Owner's Equity Month Ended December 31, 2019 The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation-Equipment Accounts Payable Selena Cantu, Capital Selena Cantu, Drawing Fees Income Supplies Expense Advertising Expense Depreciation Expense-Equipment Salaries Expense Utilities Expense Totals Net Income CANTU CORPORATION Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 76,200 76,290 11,000 11,000 8,100 5,000 3,100 8,480 1,480 7,000 110,00 110,000 2,200 2,200 11,000 11,000 187,000 107,000 6,200 6,290 118,500 118,500 5,800 5,000 1,400 1,400 2,200 2,200 15,800 15,800 800 800 236,500 236,580 8,600 8,680 238,79 238,700 Income Statement Balance Sheet Debit Credit Debit Credit 76,200 11,000 3,100 7,280 110,000 2,200 11,000 107,000 6,280 118,500 5, eee 1,400 2,200 15,800 800 25,200 118,500 213,500 120,200 93,300 93,300 118,500 118,500 213,580 213,500 Required: 1. Prepare an Income statement. 2. Prepare a statement of owner's equity. The owner made no additional investments during the month. 3. Prepare a balance sheet. Analyze: If the adjustment to Prepaid Advertising had been $2,800 instead of $1,400, what net Income would have resulted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a balance sheet. CANTU CORPORATION Balance Sheet December 31, 2019 Assets Total assets Liabilities and owner's equity Owner's equity Total liabilities and owner's equity The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. Income Statement Debit Credit Balance Sheet Debit Credit 76,200 11,000 3,100 3,100 Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation-Equipment Accounts Payable Selena Cantu, Capital Selena Cantu, Drawing Fees Income Supplies Expense Advertising Expense Depreciation Expense-Equipment Salaries Expense Utilities Expense Totals Net Income CANTU CORPORATION Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 76,200 76,200 11,000 11,000 8,100 5,000 8,400 1,400 7,000 110,000 110,000 2,200 2,200 11,000 11,000 107,000 107,000 6,200 6,200 118,500 118,500 5,000 5,000 1,400 1,400 2,200 2,200 15,800 15,800 800 800 236,500 236,500 8,600 8,600 238,780 238,700 7,000 110,000 2,200 11,000 107,000 6,200 118,500 5,000 1,400 2,200 15,800 800 25,200 118,500 213,500 120,200 93,300 93, 300 118,500 118,500 213,500 213,500 Required: 1. Prepare an income statement. 2. Prepare a statement of owner's equity. The owner made no additional investments during the month. 3. Prepare a balance sheet. Analyze: If the adjustment to Prepaid Advertising had been $2,800 instead of $1,400, what net income would have resulted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze If the adjustment to Prepaid Advertising had been $2,800 instead of $1,400, what net income would have resulted? Net income