The following accounts and balances are taken from Madrid Company's adjusted trial balance for the year ended December 31, 2020: Accounts Payable $11,000 Accounts Receivable 4,000 Accumulated Depreciation 1,500 Depreciation Expense 1,500 Dividends 2,500) Insurance Expense Interest Revenue 1,340 Prepaid Insurance 2,320 Retained Earnings 11,500 Salary Expense 24,100 Service Revenue 37,800 Required: A. Prepare Madrid's income statement for the year ended December 31, 2020. (9 marks) 2,300 B. Prepare Madrid 's statement of changes in equity for the year ended December 31, 2020. (6 marks)