From the following list of accounts, prepare an income statement, statement of owner's equity, and balance sheet for the year ended or at December 31, 20--, for Milner's Star Express Cleaning Service
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| Cash |
$ 2,026 |
| Fees Earned |
13,835 |
| Accounts Payable |
7,530 |
| D. Milner, Capital January 1, 20-- |
6,000 |
| D. Milner, Drawing |
1,750 |
| Utilities Expense |
153 |
| Prepaid Insurance |
1,216 |
| Rent Expense |
1,200 |
|
4,080 |
|
| Equipment |
15,290 |
| Wages Expense |
1,650 |
Income Statement
| Income | ||
| Fees Earned | 13835 | |
| Less: Expenses | ||
| Utilities expenses | 153 | |
| Rent expenses | 1200 | |
| Wage expenses | 1650 | |
| Total Expenses | 3003 | |
| Net Income | 10832 |
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