The following is trial balance for the year ended March 31, 2020.

No.	Account		Debit			Credit
201	Accounts payable and accrued liabilities				$	3,950
103	Accounts receivable	$	8,050
168	Accumulated depreciation, equipment					9,050
300	Becky Brenner, capital					34,950
301	Becky Brenner, withdrawals		30,000
101	Cash		10,550
194	Copyright		7,900
167	Equipment		34,600
633	Insurance expense		2,640
623	Interest expense		515
141	Notes receivable, due January 1, 2023		15,400
233	Long-term notes payable					21,800
610	Rent expense		10,500
402	Revenues					81,460
126	Supplies		425
637	Supplies expense		2,000
652	Telephone expense		2,300
203	Unearned revenues					19,600
688	Utilities expense		2,730
612	Wages expense		43,200
	Totals	$	170,810		$	170,810

The following is additional information that has not been included in the trial balance.

- On April 2, you received the telephone bill for the month of March for $555.

- On March 31, Adventure Element took a university student club zip-lining. An invoice had been sent to the student club for $2,450 due April 30.

- On March 31, the company held a teens camp for $1,720. All tickets had been prepaid two weeks in advance.

- The equipment has an estimated useful life of 20 years with no residual value at the end of its useful life. If you need to create a new account, use account number 606.

Use straight line method for depreciating Equipment. - The owner made an additional investment during the year of $13,500. A $4,400 payment on the long-term notes payable will be made during the year ended March 31, 2021. 1. Prepare an income statement for the year ended March 31, 2020.

2. Prepare a statement of changes in equity for the year ended March 31, 2020.

3. Prepare a classified balance sheet at March 31, 2020.