This alphabetized adjusted trial balance is for Mad Catz Courier as of its December 31, 2020, month-end:

Required

Use the information in the trial balance to prepare:

1. The income statement for the month ended December 31, 2020.

2. The statement of changes in equity for the month ended December 31, 2020, assuming the owner invested $127,000 during December.

3. The balance sheet as of December 31, 2020.

Transcribed Image Text:

Debit Credit $ 37,000 Accounts payable. $ 25,000 Accounts receivable. Accumulated depreciation, equipment. 95,000 Accumulated depreciation, trucks. 24,000 Advertising expense. 9,800 Cash. 14,000 Delivery revenue 190,000 Depreciation expense, equipment. 23,000 Depreciation expense, trucks. 12,000 Equipment. 130,000 Interest income 250 Interest expense. 650 Interest payable. 325 Interest receivable 125 Land. 60,000 Long-term notes payable. Madison Catz, capital.. 100,000 152,500 Madison Catz, withdrawals. 5,000 Notes receivable (due in 90 days). Office supplies. Office supplies expense. 100,000 1,800 5,400 Repairs expense. Salaries expense 17,300 41,000 Salaries payable . 15,000 Trucks 62,000 Unearned delivery revenue. 55,000 Wages expense 162,000 Totals. $669,075 $669,075