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In: AccountingRETL 261 –FINAL EXAM PROBLEMSFINANCIAL STATEMENTSThe Trial Balance for Greengrass Lawn Care Company after...RETL 261 –FINAL EXAM PROBLEMSFINANCIAL STATEMENTSThe Trial Balance for Greengrass Lawn Care Company after secondyear of operations: Greengrass Lawn CareCompanyTrial BalanceDecember 31, 2017 Debit CreditCash $4,500AccountsReceivable 5,100PrepaidInsurance 2,100Equipment 21,000Notespayable 4,300Accountspayable 10,200Unearned ServiceRevenue 2,000K. Johnson,capital 20,000K. Johnson,withdrawals 12,000ServiceRevenue 28,000AdvertisingExpense 1,800RentExpense 3,400SalariesExpense 9,000UtilitiesExpense 5,600 _____ $64,500 $64,500Using the information from the trial balance, determine theamount of net income (or Net Loss) for Greengrass Lawn Care Companyfor the year. You do not have to prepare an income statement.Using the information from the trial balance, determine theending balance for K Johnson, Capital for the year ended December31, 2017. You do not have to prepare a Statement of Changes inOwner’s Equity for Greengrass Lawn Care Company.How does the date in the heading of an Income Statement differfrom the date in the heading of a Balance Sheet?Using the information from the trial balance, what is the totalamount of assets for Greengrass Lawn Care Company? Using the information from the trial balance, what is the totalamount of liabilities for Greengrass Lawn Care Company? Using your answers from B, D, and E, illustrate the formula(equation) for the balance sheet. Use dollar amounts.