The completed worksheet for Montoya Corporation as of December 31, 20X1, after the company had completed the first month of operations, appears below. Account Name Cash Accounts receivable Supplies Prepaid advertising Equipment Accumulated depreciation-Equipment Accounts payable Regina Montoya, Capital Regina Montoya, Drawing Fees income Supplies expense Advertising expense Depreciation expense-Equipment Salaries expense Utilities expense Totals Net income Trial Balance Debit 78,100 12,900 11,900 19,800 82,500 8,100 MONTOYA CORPORATION Worksheet Month Ended December 31, 20X1 Adjustments 17,700 2,700 233,700 Credit 12,900 108,900 111,900 233,700 Debit 6,900 3,300 1,650 11,850 Credit 6,900 3,300 1,650 11,850 Adjusted Trial Balance Debit Credit 78,100 12,900 5,000 16,500 82,500 8,100 6,900 3,300 1,650 17,700 2,700 235, 350 1,650 12,900 108,900 111,900 235, 350 Income St Debit 6,900 3,300 1,650 17,700 2,700 32,250 79,650

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: Complete this question by entering your answers in the tabs below. If the adjustment to Prepaid Advertising had been $6,600 instead of $3,300, what net income would have resulted Prepare a balance sheet. Prepare a statement of owner's equity. The owner made no additional investments during the month. Prepare an income statement. The completed worksheet for Montoya Corporation as of December 31, 20X1, after the company had completed the first month of operations, appears below