The adjusted trial balance of Special Event Security Services (SESS), an unincorporated business owned and operated by Jim Popovich, is provided below:

SPECIAL EVENT SECURITY SERVICES

Adjusted Trial Balance

September 30, 2021

Debit Credit

Cash........................................................................................................ $ 10,000

Accounts receivable................................................................................ 8,500

Prepaid insurance................................................................................... 1,100

Land......................................................................................................... 50,000

Building.................................................................................................... 260,000

Accumulated depreciationbuilding....................................................... $ 31,200

Equipment............................................................................................... 18,000

Accumulated depreciationequipment.................................................. 7,200

Accounts payable.................................................................................... 15,500

Accrued interest...................................................................................... 500

Unearned revenue.................................................................................. 25,000

Note payable........................................................................................... 100,000

J. Popovich, capital................................................................................. 48,150

J. Popovich, drawings............................................................................. 36,000

Service revenue...................................................................................... 420,000

Depreciation expense............................................................................. 2,350

Insurance expense.................................................................................. 6,600

Interest expense...................................................................................... 5,000

Rent expense.......................................................................................... 60,000

Wages expense...................................................................................... 190,000 _______

$ 647,550 $ 647,550

Additional information:

The note payable is due in annual instalments of $10,000 principal plus interest. The next payment is due August 31, 2022.

Jim Popovich invested $20,000 on June 1, 221.

Instructions

Prepare, in good format, the income statement, statement of owners equity, and classified balance sheet for SESS for the year ended September 30, 2021.