(P3-11) Royal Graphics Company was organized on July 1, 2008, by Jan Bejar. Royal Graphics coarte all prepayments in income statement accounts. At the end of the first six months of operaTons, the trial balance had the following accounts: Analysis reveals the following additional data: 1. At December 31,$585 of supplies were on hand. 2. The three-month 6% note payable was issued November 1. Interest and principal are payable at maturity. 4. During the first six months of operations, Royal Graphics collected $6,500 cash from customers before providing services to them. At December 31,$1,600 of this amount is still unearned. 5. Equipment was purchased on July 1,2008 and has an estimated useful life of 15 years. 6. Utilities of $225 are owed at December 31. 7. January 2009 rent of $565 was paid on December 31, 2008, and is included in Rent Expense. Adjusting the Accounts Instructions (b) Prepare an adjusted trial balance. (c) Prepare an income statement and statement of owner's equity for the six months ended Deghily ber 31 , and a balance sheet at December 31, 2008