The following trial balance has been prepared from the ledger of Sabre Travels Inc.
Sabre Travels Inc.
Trial Balance
January 31, 2015

Required:
1. Calculate the total debits and credits.
2. Prepare an income statement and statement of changes in equity for the year ended January 31, 2015, and a balance sheet at January 31. Assume share capital was issued in the prior fiscal year and that opening retained earnings is zero.

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Account Balances Debits Credits Cash Accounts receivable Unused supplies Equipment Building Land Bank loar Accounts payable Share capital Fees earned Advertizing expense Repairs expense Supplies expense Telephone expense Utilities expense Wages expense 140 10 700 $100 20 250 1,875 200 100 20 10