What information were you able to glean about the financial situation of this company from the financials? How does this accounting information impact business decisions?

Trial Balance Trial Balance Income Statement Balance Sheet Adjustments Account Name 10,940 10,940 Accounts Receivable Office Supplies 4,000 2,000 2,000 2,000 Prepaid Rent 1,100 100 1,000 1,000 Prepaid Insurance 10,200 10,200 10, 200 Office Equipment Accumulated Depreciation, 60 320 380 380 office Equipment 2700 2,700 2, 700 Office Furniture Accumulated Depreciation, 50 200 250 250 Office Furniture Accounts Payable 5,710 5,710 710 3,700 1460 2.240 2.240 Unearned Consulting Fees 480 1,080 1,080 Wages Payable 600 J.Long, Capital 23,790 23,790 23, 790 J.Long, Withdrawals 1750 1750 1, 750 6,250 1,840 8,090 8,090 Consulting Fees Earned Bookkeeping Fees Earned 2,180 2,180 2,180 3 200 480 31680 3,680 Wages Expense 340 340 340 Utilities Expense 220 220 220 Telephone Expense Rent Expense 2,000 2,000 2,000 100 100 100 Insurance Expense office Supplies Expense 490 490 490 320 320 320 Depreciation Expense, office Equipment 200 200 200 Depreciation Expense, Office Furniture 5430 43120 43720 7 350 10,270 36,370 33,450 2,920 2,920 Net Income 10,270 10,270 36 370 336 370