This alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2014, year-end:

		Debit		Credit
Accounts payable			$	43,400
Accounts receivable	$	18,100
Accumulated depreciation, automobiles				68,400
Accumulated depreciation, equipment				19,900
Advertising expense		8,400
Automobiles		134,000
Cash		10,400
Depreciation expense, automobiles		12,600
Depreciation expense, equipment		3,500
Equipment		62,000
Fees earned				227,475
Interest earned				200
Interest expense		2,900
Interest payable				50
Interest receivable		400
John Conroe, capital				22,400
John Conroe, withdrawals		18,400
Land		32,000
Long-term notes payable				109,000
Notes receivable (due in 90 days)		77,000
Office supplies		3,400
Office supplies expense		12,400
Repairs expense, automobiles		7,800
Salaries expense		75,625
Salaries payable				4,900
Unearned fees				10,400
Wages expense		27,200
Totals	$	506,125	$	506,125

Required:

Use the information in the trial balance to prepare:

a.The income statement for the year ended December 31, 2014.

b.	The statement of changes in equity for the year ended December 31, 2014, assuming that the owner made additional investments of $12,000 during the year. c.The balance sheet as of December 31, 2014