7.The accounting equation elements and their balances of Awesome Travel Services at December 31 are listed below There were no additional investments or withdrawals by J. Trendsetter during the year. S12,000 J. Trendsetter, capital (January 1) S10,000 1,000 1,300 8,000 25,000 Accounts payable Accounts receivable Cash Computer equipment21,000 Utilities expense Fees earned Rent expense Prepare an income statement, statement of owner's equity, and a balance sheet as of December 31. 14,000 Supplies 18,000 Income taxes expense 78,000 Wages expense 1.700 10,000 Supplies expense