This is a trial balance for C. Levesque's business Habs Sports Ltd. as of Sept 30, 2011. Habs Sports Ltd. Trial Balance September 30, 2011 Bank 46308 A/R - M. Lefebvre 320 A/R - Fellowes HS 165 Inventory 5322 Supplies 1069 A/P - Reebok 762 A/P - Staples 195 Bank Loan 10050 C. Levesque, Capital 21878 Fees Earned 23660 Advertising Expense 578 Gas Expense 100 Rent Expense 583 Wages Expense 2000 C. Levesque, Drawings 100 56545 56545 A. Set up ledger (T Accounts) using the figures in this trial balance. Then, make changes to each account using the following transactions that occur during the month of October Transactions 1. M. Lefebvre sends a cheque for $200. 2. Habs Sports Ltd. holds a clinic for Fellowes HS in the amount of $100 and places the full amount on account. 3. An employee is paid $20 in gas mileage for running the clinic 4. $2000 of inventory is purchased using cash. 5. $500 is paid off of the bank loan. 6. An employee is given a paycheck for $650. 7. Habs Sports Ltd. holds a clinic for M. Lefebvre in the amount of $750. $500 is paid in cash and the rest is placed on account. 8. $300 is paid to Reebok. 9. Habs Sports Ltd. has an ad placed in the newspaper for $75. 10. M. Lefebvre sends a cheque for $150. B. Calculate your pin totals and account balances for each account in the ledger. C. Perform a trial balance for 30 Oct, 2011. D. Create an Income Statement to calculate Net Income. E. Create a Balance Sheet with expanded equity