a) Prepare the appropriate closing entries. HINT: Where would you go to get the information required to journalize the closing entries? NOTE: The closing entries will be automatically posted to the general ledger when you click 'submit' and the correct general ledger balances will be available in the solution to Part 7. General Journal Page GJ6 Date Account/Explanation F Debit Credit + - + - c) Prepare a classified balance sheet at April 30, 2014. Techtastic Corp. Balance Sheet April 30, 2014 Assets Current assets Cash 176,192 Accounts receivable 83,040 Prepaid insurance 1,100 Total current assets. 260,332 Property, plant and equipment Building... 65,500 Accumulated depreciation, building. (3,600) 61,900 Furniture 21,600 Accumulated depreciation, furniture (157) 21,443 Total property, plant and equipment 83,343 Total assets 343,675 Liabilities Current liabilities Accounts payable. 47,000 Salaries payable 2,100 Unearned consulting revenue. 18,900 Total current liabilities. 68,000 Total liabilities... 68,000 Equity Share capital 192,500 Retained earnings 83,175 Total equity. 275,675 Total liabilities and equity. 343,675 a) Prepare an income statement for the month ended April 30, 2014. HINT: Wher Techtastic Corp. Income Statement For the Month Ended April 30, 2014 Revenues Consulting revenue earned 39,462 Expenses Depreciation expense, building. 600 Depreciation expense, furniture 157 Salaries expense 15,400 Insurance expense 100 Food and drinks expense. 70 Property taxes expense. 500 Repair expense 600 Utilities expense 500 Total expenses 17,927 Net income 21,535 b) Prepare a statement of changes in equity for the month ended April 30, 2014. Techtastic Corp. Statement of Changes in Equity For Month Ended April 30, 2014 Share Retained Total Equity Capital Earnings Balance, April 1 147,500 69,000 216,500 Issuance of shares 45,000 45,000 Net income 21,535 21,535 Dividends (7,360) (7,360) Balance, April 30 192,500 83,175 275,675