Please use the adjusted year-end trial balance and additional information provided below to complete the...
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Accounting
Please use the adjusted year-end trial balance and additional information provided below to complete the following financial statements in good form for Fit Stop Personal Training Inc. (a) Statement of Income (7 marks) (b) Statement of Changes in Equity (8 marks) (c) Classified Statement of Financial Position (13 marks) August 31, 2020 Credit Debit 12,000 27,000 262,000 Cash Prepaid Insurance Equipment Accumulated depreciation, Equipment Salaries payable Bank Loan payable Common shares Retained earnings Dividends declared Service revenue Depreciation expense Income tax expense General and administrative expense Total $65,500 22,000 62,000 62,000 3,050 12,000 212,000 6,550 52,000 55,000 $426,550 $426,550 Additional Information: $12,000 Dividends were declared and paid during the year. 5,000 Common shares were issued for $21,000. $12,000 of the bank loan is due in February 2021
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