The adjusted trial balance of Georgian Protection at December 31, 2014, is shown below.

Required
1. Prepare Georgian Protection's 2014 income statement, statement of owner's equity, and balance sheet. List expenses in decreasing-balance order on the income statement and show total liabilities on the balance sheet. If your three financial statements appear on one page, draw the arrows linking the three financial statements. If they are on separate pages, write a short paragraph describing how the three financial statements are linked.
How will what you have learned in this problem help you manage a business?
2. a. Which financial statement reports Georgian Protection's results of operations? Were operations successful during 2014? Cite specifics from the financial statements to support your evaluation.
b. Which statement reports the company's financial position? Does Georgian Protection's financial position look strong or weak? Give the reason for your evaluation.

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GEORGIAN PROTECTION Adjusted Trial Balance December 31, 2014 $ 4,200 Cash Accounts receivable 28,500 5,200 Supplies Prepaid rent 7,500 162,000 Equipment $ 38,000 Accumulated amortization-equipment 70,000 Office furniture Accumulated amortization–office furniture 36,000 Accounts payable 14,800 Interest payable 500 Unearned service revenue 13,800 Notes payable 50,000 M. Wrosek, capital 29,300 M. Wrosek, withdrawals 17,000 Service revenue 291,000 Amortization expense Amortization expense equipment 19,000 office furniture 6,000 Salaries expense 105,000 Rent expense 25,000 3,500 Interest expense Utilities expense 7,200 Insurance expense 4,800 Supplies expense 8,500 Total $473,400 $473,400