The following is the adjusted trial balance of sierra company. account title debit credit cash $ 5,000 prepaid insurance 500 notes receivable (due in 5 years) 4,000 buildings 20,000 accumulated depreciation–buildings $ 12,000 accounts payable 2,500 notes payable (due in 3 years) 3,000 h. sierra, capital 10,500 h. sierra, withdrawals 1,000 consulting revenue 9,500 wages expense 3,500 depreciation expense–buildings 2,000 insurance expense 1,500 totals $ 37,500 $ 37,500 required (1) prepare an income statement for the year ended december 31. (2) prepare a statement of owner’s equity for the year ended december 31.

Construct an example of the cycle of​ money, identify all the players involved and identify their individual benefits from participating in the cycle of money. in the examples of the cycle of money shown​ below, identify all the players involved and identify their individual benefits from participating in the cycle of money. example​ one: ​(select from the​ drop-down menus.) ▾ opens a savings account ▾ with the borrower with the original lender at a local commercial bank with a​ $200 deposit. the ▾ original lender bank borrower loans out the​ $200 with other funds from other savings accounts to ▾ the original lender a local businessman who is expanding his business. the local businessman pays back the loan over time with interest and the bank credits the savings account with interest. the individual withdraws money from the savings account to buy a new bike.