Karen Smith is in the business of managing apartment houses. Examine each of the following items related to the business and state with the appropriate letter ( \(a\), \

(b, c\), or \(d\) ) whether the item should appear on

(a) an income statement,

(b) a statement of changes in owner's equity, \((c)\) a balance sheet, or \((d)\) a statement of cash flows. If an item should appear on two statements, state both letters.

1. Management fees earned.

2. Accounts receivable.

3. Investments of cash by owner.

4. Cash received from customers.

5. Rent expense paid in cash.

6. Cash withdrawals by owner.

7. Office supplies.

8. Accounts payable.