The completed worksheet for Chavarria Corporation as of December 31, 20X1, after the company had completed the first month of operation, appears below.

CHAVARRIA CORPORATION Worksheet Month Ended December 31, 20X1
		Trial Balance						Adjustments						Adjusted Trial Balance						Income Statement						Balance Sheet
Account Name		Debit			Credit			Debit			Credit			Debit			Credit			Debit			Credit			Debit			Credit
Cash		77,800												77,800												77,800
Accounts receivable		12,600												12,600												12,600
Supplies		11,300									6,600			4,700												4,700
Prepaid advertising		18,000									3,000			15,000												15,000
Equipment		75,000												75,000												75,000
Accumulated depreciationEquipment											1,500						1,500												1,500
Accounts payable					12,600												12,600												12,600
Isabel Chavarria, Capital					108,600												108,600												108,600
Isabel Chavarria, Drawing		7,800												7,800												7,800
Fees income					101,100												101,100						101,100
Supplies expense								6,600						6,600						6,600
Advertising expense								3,000						3,000						3,000
Depreciation expenseEquipment								1,500						1,500						1,500
Salaries expense		17,400												17,400						17,400
Utilities expense		2,400												2,400						2,400
Totals		222,300			222,300			11,100			11,100			223,800			223,800			30,900			101,100			192,900			122,700
Net income																				70,200									70,200
																				101,100			101,100			192,900			192,900

Required:

Prepare an income statement.

Prepare a statement of owners equity. The owner made no additional investments during the month.

Prepare a balance sheet.

Analyze:

If the adjustment to Prepaid Advertising had been $6,000 instead of $3,000, what net income would have resulted?