Question 16 (28 points) Please use the adjusted year-end trial balance and additional information provided below to complete the following financial statements in good form for Perfect Pet Grooming Ltd. (a) Statement of Income (7 marks) (b) Statement of Changes in Equity (8 marks) (c) Classified Statement of Financial Position (13 marks) Credit Perfect Pet Grooming Ltd. Adjusted Trial Balance July 31, 2020 Debit Cash 10,000 Supplies 25,000 Equipment 260,000 Accumulated depreciation, Equipment Line of credit Bank Loan payable Common shares Retained earnings Dividends declared 25,000 Service revenue Depreciation expense 6,500 Income tax expense 50,000 General and administrative expense 53,000 Total $429,500 $65,000 20,000 60,000 60,000 14,500 210,000 $429,500 Additional Information Additional Information $25,000 Dividends were declared and paid during the year. 5,000 Common shares were issued for $7,500. $5,000 of the bank loan is due in December 2020. Paragraph B 1 UA AO DE co a. Statement of Income (7 marks) Perfect Pet Grooming Ltd. Statement of Income MacBook Pro b. Statement of Changes in Equity (8 marks) Perfect Pet Grooming Ltd. Statement of Changes in Equity I c. Classified Statement of Financial Position (13 marks) Perfect Pet Grooming Ltd. Statement of Financial Position I Question 17 (3 points)