Module 1 Quiz Using the adjusted trial provided below, prepare an income statement, statement of owner's equity, and balance sheet. MC Tutoring Plus MC Tutoring Plus MC Tutoring Plus Adjusted Trial Balance Income Statement Balance Sheet July 31, 20X1 For the Month Ending July 31, 20X1 For the Month Ending July 31, 20X1 Account Debit Credit Services Revenue 13,560 Assets Liabilities Cash $ 47,875 Expenses cash 47,875 Accounts payable 3,605 Accounts receivable S 23,500 rent expense 5,500 Accounts receivable 23,500 Total liabilities 3,605 Supplies S 2,000 insurance expense 1,240 Supplies 2,000 Accounts payable S 3,605 miscellaenous expense 50 Total assets 73,375 Marissa Chianese, Capital S 68,000 Total expenses 6,790 Owner's Equity Marissa Chianese, Drawing S 5,000 Marissa Chianese, Capital 68,000 Services revenue S 13,560 Net income 6,770 Total liabilities and owners equity 71,605 Rent expense $ 5,500 Insurance expense S 1,240 MC Tutoring Plus Miscellaenous expense 50 Statement of Owner's Equity For the Month Ending July 31, 20X1 $ 85,165 $ 85,165 The owner made $20,000 in contributions during the period