Using this trial balance, prepare an income statement, statement of changes in equity, and a classified balance sheet. Use the standard format that has been discussed in class, another format than the standard format will be marked zero.

Lucie Accounting Trial Balance For Year Ended December 31, 2020
Account
	Debit	Credit
Cash	$8,000
Accounts receivable	2,200
Office supplies	700
Prepaid insurance	1,100
Long term note receivable	3,00
Land	50,000
Equipment	15,000
Accumulated depreciation, Equipment		$1,200
Building	150,000
Accumulated depreciation, Building		1,500
Customer list	900
Notes payable*		11,000
Unearned accounting fees earned		3,000
Salaries payable		7,000
Lucie Majeau, capital**		10,000
Lucie Majeau, withdrawals	5,000
Accounting fees earned		211,400
Depreciation expense, Building	500
Depreciation expense, Equipment	600
Insurance expense	100
Rent expense	1,100
Office supplies expense	900
Repairs expense	5,000
Telephone expense	1,000
Totals	$245,100	$245,100
*The current portion of the note payable due this year is $3,000
**$5,000 was invested during the year

Answer rating: 100% (QA)

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