Assume that Dr. Aaron Jones is the sole owner of Family Medicine. At the end of the first year of operations (June 30, 2009), the following financial data for the company are available:

Cash $ ......................................................... 13,500

Accounts Receivable (from patients) ....................... 9,500

Supplies ....................................................... 17,000

Equipment .................................................... 76,000

Accounts Payable (to suppliers) ............................. 3,500

Notes Payable ................................................. 21,000

Medical Service Revenue .................................. 90,000

Wages Expense .............................................. 46,000

Utilities Expense .............................................. 6,500

Other Expenses ................................................ 2,000

Dr. Jones invested $62,000 in cash to start the practice at the beginning of the year and withdrew $6,000 in cash from the business during the year.

Required:

1. Prepare an income statement for the year ended June 30, 2009.

2. Prepare a statement of owner's equity for the year ended June 30, 2009.

3. Prepare a balance sheet at June 30, 2009.