Question: Please use the adjusted year-end trial balance and additional information provided below to complete the following financial statements in good form for ACME Corporation:

Please use the adjusted year-end trial balance and additional information provided below

Please use the adjusted year-end trial balance and additional information provided below to complete the following financial statements in good form for ACME Corporation: (a) Statement of Income (7 marks) (b) Statement of Changes in Equity (8 marks) (c) Classified Statement of Financial Position (13 marks) ACME Corporation Adjusted Trial Balance July 31, 2021 Debit $12,500 3,000 243,000 Credit Cash Supplies Equipment Accumulated depreciation, Equipment Accounts payable Bank Loan payable Common shares Retained earnings Dividends declared Service revenue Depreciation expense Income tax expense General and administrative expense Total $60,750 10,500 22,500 57,500 3,825 3,500 212,500 6,075 13,500 86,000 $367,575 $367,575 Additional Information $3,500 Dividends were declared and paid during the year. Common shares were issued for $30,000. $5,000 of the bank loan is due in December 2021

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