Exercise 2-11 Journalizing, posting, preparing a trial balance, and financial statemel CHECK FIGURES: 4. Profit = $21,700; 6. Total assets = $35,400 After its first month of operations, Paquette Advisors showed the following account balan general ledger accounts (T-accounts) as at January 31, 2017. Cash Accounts Receivable Office Equipment 15,000 3,800 22,500 Accounts Payable Unearned Revenue Aaron Paquette, Capital 8,000 2,600 9,500 Aaron Paquette, Withdrawals Consulting Revenues Salaries Expense 2,00 41,700 10,000 Rent Expense Utilities Expense 7,500 1,000 During February, the following transactions occurred: Feb. 1 Performed work for a client and received cash of $8,500. 5 Paid $5,000 regarding outstanding accounts payable. 10 Received cash of $3,600 for work to be done in March. 12 Called FasCo Rentals to book the use of some equipment next month. The $400 rental fee will be paid in full when the equipment is returned. 17 The owner withdrew cash of $3,000 for personal use. 28 Paid salaries of $10,000. Required 1. Record the journal entries for the month of February. 2. Post the journal entries to the general ledger (T-accounts). Include the date next to each posting 3. Prepare a trial balance based on the balances in your T-accounts. 4. Prepare an income statement for the two months ended February 28, 2017. 5. Prepare a statement of changes in equity for the two months ended February 28, 2017. 6. Prepare the balance sheet as at February 28, 2017