The adjusted trial balance of Georgian Protection at December 31, 2017, is shown below:

Required
1. Prepare Georgian Protection's 2017 income statement, statement of owner's equity, and balance sheet. List expenses in decreasing-balance order on the income statement and show total liabilities on the balance sheet. If your three financial statements appear on one page, draw the arrows linking the three financial statements. If they are on separate pages, write a short paragraph describing how the three financial statements are linked. How will what you have learned in this problem help you manage a business?
2. a. Which financial statement reports Georgian Protection's results of operations? Were operations successful during 2017? Cite specifics from the financial statements to support your evaluation.
b. Which statement reports the company's financial position? Does Georgian Protection's financial position look strong or weak? Give the reason for your evaluation.

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GEORGIAN PROTECTION Adjusted Trial Balance December 31,2017 $ 4,200 28,500 5,200 7,500 162,000 Cash Accounts receivable Supplies Prepaid rent Equipment Accumulated amortization-equipment Office furniture Accumulated amortization-office furniture Accounts payable Interest payable Unearned service revenue Notes payable M. Wrosek, capital M. Wrosek, withdrawals Service revenue Amortization ex $ 38,000 70,000 36,000 14,800 500 13,800 50,000 29,300 17,000 291,000 19,000 6,000 105,000 25,000 3,500 7,200 4,800 8,500 $473,400 pense equipment tion expense-office furniture Salaries expense Rent expense Interest expense Utilities expense Insurance expense Supplies expense Total $473,400