2. What are the steps in the Accounting Cycle? On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $ 66,000 Maria Lopez, Drawing $ 52,000 5,800 Fees Income 107,500 4,200 Depreciation Expense 5,500 52,000 Salaries Expense 34,000 5,000 Supplies Expense 6,000 6,000 Telephone Expense 5, 200 121,500 Utilities Expense 9, 300