9 Problem 1-4A Financial statements v2 On July 1, 2019, Eriksen and Associates Architects entered its second year of operations. Eriksen and Associates Architects provides high-quality architectual designs and project management. On July 31, 2020, Marshall Eriksen, the owner, finalized the company's records, which showed the following items. US 01:35:16 $ 12,500 73,000 82,400 61,500 8,700 16,300 5,200 51,000 22,300 Accounts payable Accounts receivable Marshall Eriksen, capital, July 31, 2019 Marshall Eriksen, withdrawals Cash Furniture Interest expense Notes payable Drafting Equipment Prepaid rent Rent expense Design revenue Project Management revenue Supplies Supplies expense Utilities expense Wages expense 7,100 29,500 8,700 177,500 5,500 19,000 12,900 71,100 *Hint: The ending capital balance for one period is the beginning capital balance for the next period. There were no owner investments during the year ended July 31, 2020. Required: a. Prepare an income statement for the year ended July 31, 2020