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Please update the attached spreadsheet with the following info

  • Prepare an income statement, a statement of owner’s equity, and a balance sheet. (Note: Peyton Smith made investments in PS Music on June 1 and July 1, 2019.)Answer Check Figure: Net income: $4,955
  • Journalize and post the closing entries. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry.
  • Prepare a post-closing trial balance.