Yanik Financial Services Ltd. reports the following adjusted trial balance at August 31, 2021: Credit YANIK FINANCIAL SERVICES LTD. Adjusted Trial Balance August 31, 2021 Debit Cash $11.410 Accounts receivable 18,200 Supplies 3.000 Prepaid insurance 3,550 Equipment 26,000 Accumulated depreciation-equipment Accounts payable Salaries payable Interest payable Rent payable Income tax payable Deferred revenue Bank loan payable, 2024 Common shares Retained earnings Dividends declared 600 Service revenue Salaries expense 19,400 Rent expense 14,525 Depreciation expense 2,355 Supplies expense 1,770 Interest expense 1,580 Insurance expense 1,120 Income tax expense 2.020 Total $105,530 $5,905 2,900 2,200 1,580 1,500 1,600 400 23,300 5.200 5,600 55,345 $105.530 During the year, the company issued common shares for $1,500. (a) Prepare an income statement. YANIK FINANCIAL SERVICES LTD Statement of Income For the year ended August 31, 2021