1 Assignment 252Fonline.pes.edu/%252Fwebapp%252Fblackboard%252C Help Save & Exit Submit 17 Lipped Book vint ences Exercise 1-23 (Algo) Linking the income statement and statement of owner's equity LO P2 Terrell Company reported the following data at the end of its first year of operations on December 31 Equipment Accounts payable Owner Investments Terrell, withdrawals Services revenue Rent revenue Salaries expense Advertising expense Utilities expense $ 22,500 11,500 26.500 9,500 61,500 13,500 41,500 7,500 5,500 (a) Prepare its year-end income statement (b) Prepare its year-end statement of owner's equity, using net income calculated in part a Hint Terrell, Capital on January 1 was 50. Complete this question by entering your answers in the tabs below. Required A Required 8 Prepare its year-end income statement. Check my work