III. Prepare a "Income Statement" and a "Balance Sheet" using the following "Trial Balance" from August 1st, 2012 to July 31st, 2013. RMR HOTEL Trial Balance July 31, 2018 $11,200 3,240 1,200 650 96,000 $67,200 82,000 Cash Supplies Prepaid Rent Prepaid Insurance Land Buildings Accumulated Depreciation Buildings Equipments Accumulated Depreciation - Equipments Accounts Payable Notes Payable Taxes Payable RMR Hotel Capital RMR Hotel Drawing Sales Room Division Sales Food and Beverage Income from Gift Shop Salary Expense Rent Expense Supplies Expense Depreciation Expense Utilities Expenses Taxes Expenses Insurance Expenses Miscellaneous Expenses 36,900 1,450 7,340 920 120,430 20,500 100,000 16,000 680 68,650 6,000 5,210 8,900 1,520 1,150 780 $ 350,920 $ 350,920