Using the adjusted trial balance from part 1 of the project, the student will create an income statement, a statement of owner's equity, and a balance sheet. The student will also create closing journal entries and a post-closing trial balance.

. Adjsuted trial balance -

Worksheet
for the moth ended January 31
Account Titles	Account Number	Adjusted Trial Balance
			Credit ($)
Cash	100	43,250
Supplies	110	100
Prepaid Insurance	120	1,650
Prepaid Rent	130	5,500
Accounts Receivable		21,500
Accounts Payable	200		300
Wages Payable	210		1,200
Interest Payable	220		50
Notes Payable	230		10,000
Common Stock	300		20,000
Retained Earnings	310		-
Service Revenue	400		57,000
Wages Expense	500	13,200
Operating Expenses	510	2,000
Interest Expense	520	50
Insurance Expense	530	150
Rent Expense	540	500
Supplies Expense	550	400
Dividends	600	250
Income Summary	700	-
		88,550	88,550