1.Prepare the Income Statement using the Trial Balance (MAKE SURE ALL ACCOUNTS ARE CORRECT AND DEBITS AND CREDITS ARE CORRECT & Profits or losses calculated )

2. Prepare the Statement of Owner's Equity using the Trial Balance and Income Statement (Make sure Accounts under correct headings 7 Owner's Equity calculated correclty)

3. Prepare the Balance Sheet using the Trial Balance and Statement of Owner's Equity (Make sure ACCOUNTS UNDER CORRECT HEADINGS & ASSETS AND LIABILITIES CALCULATED CORRECTLY & BALANCE SHEET BALANCED)

PLEASE

A B D E CREDIT Sophie Smith, Paralegal Trial Balance Sunday, January 31, 2021 # ACCOUNT DEBIT 100 General Bank Account $ 21,804.00 110 Trust Bank Account $ 5,200.00 120 Accounts Receivable $ 3,567.00 130 Office Supplies $ 1,234.00 155 Computer Equipment $ 5,243.00 158 Office Furniture and Equipment $ 34,200.00 160 Office Equipment $ 1,950.00 200 Accounts Payable/General Liabilities $ 210 Credit Card Debt $ 250 Bank Line of Credit $ 300 Sophie Smith, Capital $ 350 Sophie Smith, Drawings $ 4,000.00 400 Fees Earned $ 405 Interest Revenue $ 507 Bank Charges $ 635.00 511 Salaries Expense $ 3,200.00 529 Interest Expense $ 235.00 530 Professional Liability Insurance $ 2,500.00 534 Membership & Professional dues $ 267.00 538 Rent Expense $ 2,200.00 565 Telephone Expense $ 180.00 Total $ 86,415.00$ 5,150.00 5,325.00 8,000.00 42,000.00 25,440.00 500.00 86,415.00