The adjusted trial balance of Lorenz Company at the end of its fiscal year is:

Instructionsa. Prepare an income statement and an owner?s equity statement for the year. Lorenz did not make any capital investments during the year.b. Prepare a classified balance sheet at July 31.

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Lorenz Company Adjusted Trial Balance July 31, 2022 Debit Credit No. Account Titles $ 14,940 Cash 101 Accounts Receivable 112 8,780 Equipment Accumulated Depreciation-Equipment Accounts Payable 157 15,900 $ 5,400 167 201 4,220 Unearned Rent Revenue 208 1,800 J. D. Lorenz, Capital J. D. Lorenz, Drawings 301 45,200 14,000 306 Service Revenue 65,100 404 Rent Revenue 429 6,500 Depreciation Expense Salaries and Wages Expense Utilities Expense 711 4,000 55,700 720 732 14,900 $128,220 $128,220