Based on the following trial balance for Barry's Automotive Shop, prepare an income statement, statement of owner's equity, and a balance shee
company during the year.
Barry's Automotive Shop
Trial Balance
December 31
Cash
Accounts receivable
Supplies
Repair shop equipment
Service truck
Accounts payable
Barry, Capital
Barry, Withdrawals
Service revenue
Supplies expense
Rent expense
Utilities expense
Gas expense
Wages expense
Totals
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3 (12pt)
$\ 12,500
1,500
500
27,000
33,000
$\ 2,600
38,525
36,000
125,000
3,425
18,000
5,000
7,200
22,000
$\ 166,125
$\ 166,125