The adjusted trial balance of Personal Financial Planners appears below. Using the information from the adjusted trial balance you are to prepare for the month ending December 31 2016:
1. an income statement.
2. an owner's equity statement.
3. a balance sheet.

\begin{array}{c}\text { Personal Financial Planners}\\\text { Adjusted Trial Balance}\\\text { December 31, 2016}\\\\\begin{array}{lcc}& \underline{\text { Debit }}& \underline{\text { Credit }}\\ \text { Cash. } & \$ 4,900 \\ \text { Accounts Receivable } & 2,300 \\\text { Supplies }& 1,800 \\ \text { Equipment } & 14,000 \\\text { Accumulated Depreciation-Equipment } &&\$3,000\\\text { Accounts Payable } &&3,300\\\text { Unearned Service Revenue }&&6,000\\\text { Owner's Capital. } &&14,600\\\text { Owner's Drawings }&2,500 \\\text { Service Revenue } &&4,500\\\text { Supplies Expense }&700\\\text {Depreciation Expense}&2,700\\\text { Rent Expense}& \underline{2,500}\\& \underline{\$31,400}& \underline{\$31,400}\end{array}\end{array}

The Time Period Assumption States

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