11. Financial Statement Preparation (30%) Based on the information provided below, prepare the following financial statements: a. Income Statement b. Statement of Changes in Equity c. Balance Sheet *USE THE BACK PAGE of the SCANTRON ANSWER SHEET On August 1, 2019, Cross Fitness entered its second year of operations. Cross Fitness provides high-performance group and personal training courses that have been derived from scientific research and exercises used by professional athletes. On July 31, 2020, Jay Grey. the owner, finalized the company's records, which showed the following items. Accounts payable. $ 10,900 Accounts receivable. 57,000 Jay Grey, capital, July 31, 2019*. 80,800 Jay Grey, withdrawals. 53,500 Cash. 7,100 Furniture.. 14,700 Interest expense. 3,600 Notes payable. 35,000 Workout equipment. 20,700 Prepaid rent. 5,500 Rent expense. 21,500 Personal training revenue . 5,500 Group training revenue.. 153,500 Supplies. 3,900 Supplies expense. 17.400 Utilities expense.> 11,300 Wages expense.414145 69,500 *Hint: The ending capital balance for one period is the beginning capital balance for the next period. There were no owner investments dur the year ended July 31, 2020