Question #2 A) Based on the following adjusted trial balance, prepare a) An income statement, b) A statement of changes in shareholders' equity and c) A balance sheet for the first year of business for Midterm Company. B) Post the closing entries in the T-Accounts Provided **HINT** Look for the changes (think about the accounts that we need to make adjustments to as some expenses could have been incurred and/or some revenue could have been earned). C) Complete the analysis questions. Accounts Cash Accounts Receivable Prepaid Insurance Computers Accumulated Amortization, Computers Accounts Payable Wages Payable Unearned Revenue Common Stock Retained Earnings Dividends Service Revenue Depreciation Expense Supplies Expense Wages Expense Midterm Co. ADJUSTED TRIAL BALANCE MARCH 31, 2020 Dr Cr 22,440 4,610 4,380 5,400 150 325 120 700 30,000 0 500 5,600 150 730 3,720 TOTALS: $41.930 $41,930