HW on Accounting Cycle Part II (Chapter 5) Saved Help Save & Exit Submit Check my work m 4 The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. 15 points Te Income Statement Debit Credit Skipped Bala Debit 78,00 12,80 4,90 16,00 80,00 eBook CANTU CORPORATION Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 78,000 78,000 12,800 12.800 11,700 6,800 4,900 19,200 3,200 16,000 80,000 80,000 1,600 1,600 12,800 12,800 108,800 108,800 8,000 8,000 108,300 108,300 6.800 6.800 3,200 3,200 1,600 17,600 17,600 2,600 2.600 229,900 229,900 11,600 11,600 231,500 231,500 Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation- Equipment Accounts Payable Selena Cantu, Capital Selena Cantu, Drawing Pees Income Supplies Expense Advertising Expense Depreciation Expense- Equipment Salaries Expense Utilities Expense Totals Net Income References 8,00 108,300 6,800 3,200 1.600 1.600 17,600 2,600 31,800 108,300 199,70 76,500 108,300 108,300 199,70 Required: 1. Prepare an income statement. 2. Prepare a statement of owner's equity. The owner made no additional Investments during the month. 3. Prepare a balance sheet. Analyze: If the adjustment to Prepald Advertising had been $6,400 Instead of $3,200, what net income would have resulted