Problem 5.3A {Algal Preparing nancial statements from the worksheet. LO 5-4 The completed worksheet for Chavarria Corporation as of December 31, 20x1, after the company had completed the first month of operation. appeals below. Account Name Cash Accounts receivable Supplies Prepaid advertising Equipment Accumulated depreciationEquipment Accounts payable Isabel Chavarria, Capital Isabel Chauarria, Drawing Fees income Supplies expense Advertising expense Depreciation expenseEquipment Salaries expense Utilities expense Totals Net income CHAVARRIA CORPORATION Worksheet Month Ended December 31, 29X1 Adjusted Trial Trial Balance Adjustments Balance Income Statement Balance Sheet Debit Credit Debit (redit Debit (redit Debit Credit Debit Credit 78,666 78,666 78,666 12,866 12,866 12,866 11,766 5,866 4,966 4, 966 19,200 3,299 16,009 16,999 86,666 86,666 86,666 1,699 1,599 1,600 12, 866 12, 866 12,866 198,999 198,899 198,800 8,666 8,666 8,666 198,399 198,399 198,399 5, 866 5,866 5,866 3,266 3, 266 3,266 1, 566 1,866 1,666 17,866 17,566 17,866 2,600 2,609 2,690 229,999 229,999 11,699 11,699 231,599 231,599 31,899 193,399 199)79@ 123.2@@ 75, 566 76, 566 168,366 168, 366 199,766 199,766 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 Prepaid Advertising had been $6.400 instead of $3.200. what net income would have resulted? Complete this question by entering your answers in the tabs below. E Book El 'rint E rences ""1"" __. 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 Prepaid Advertising had been $6,400 instead of $3,200, what net income would have resulted? Complete this question by entering your answers in the tabs heluw. Required 1 Required 2 Required 3 Analyze Prepare an income statement. Revenue Salaries expense 1? Elli] Utilities expense 2 600 Total expenses _ 20 200 $ (20 200]. Required 2 >