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Using this trial balance, prepare an income statement, statement of changes in equity, and a classified balance sheet. Use the standard format that has been

Using this trial balance, prepare an income statement, statement of changes in equity, and a classified balance sheet. Use the standard format that has been discussed in class, another format than the standard format will be marked zero.

Lucie Accounting
Trial Balance
For Year Ended December 31, 2020

Account

Debit

Credit

Cash

$8,000

Accounts receivable

2,200

Office supplies

700

Prepaid insurance

1,100

Long term note receivable

3,00

Land

50,000

Equipment

15,000

Accumulated depreciation, Equipment

$1,200

Building

150,000

Accumulated depreciation, Building

1,500

Customer list

900

Notes payable*

11,000

Unearned accounting fees earned

3,000

Salaries payable

7,000

Lucie Majeau, capital**

10,000

Lucie Majeau, withdrawals

5,000

Accounting fees earned

211,400

Depreciation expense, Building

500

Depreciation expense, Equipment

600

Insurance expense

100

Rent expense

1,100

Office supplies expense

900

Repairs expense

5,000

Telephone expense

1,000

Totals

$245,100

$245,100

*The current portion of the note payable due this year is $3,000

**$5,000 was invested during the year

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