Totals $100,337 $100,337 Problem 5.3A Objective 54 Problem 5.4 Objectives 5-1, 5-2 5-3,5-4,5- Preparing financial statements from the worksheet. The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears across the top of pages 152-153. INSTRUCTIONS 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 (use the report form) Analyze: If the adjustment to Prepaid Advertising had been $3,400 instead of S1.700. what net income would have resulted? Preparing a worksheet and financial statements, Journalizing adjusting entries, and posting to ledger accounts. Paula Judge owns Judge Creative Designs. The trial balance of the form for January 31, 2019. the first month of operations, is shown below. INSTRUCTIONS 1. Complete the worksheet for the month. 2. Prepare an income statement statement of owner's equity, and balance sheet. No additional investments were made by the owner during the month, 3. Journalize and post the adjusting entries. Use 3 for the journal page number. Use the following account numbers: Supplies, 121: Prepaid Advertising. 130Prepaid Rent, 131: Accumulated Depreciation Equipment. 142. Supplies Expense. 517. Advertising Expense, 519. Rent Expense, 520 Depreciation Expense. 523. End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 2019. inventory of supplies ongary 31, 2019, is $1.600 b. The prepaid advertising contract was signed on January 1, 2019. ud over a four-month period. IGL