A B 1 Course Material: Introduction to Accounting - Financial Statements, Income Statements 2 Construct a NEW balance sheet and income statement 3 Your company has the following balance sheet (3 full-time, 4 part-time workers) 5 Current Balance Sheet: 6 assets 7 cash 8 supplies inventory 9 fixed assets 10 total assets 11 12 liabilities and owner equity 13 accounts payable 14 wages payable 15 owners' equity 16 total liabilities and equity 17 18 NOW, these transactions occur over the next month: 19 20 cash revenue 21 tips given to employees by customers 22 purchased supplies 23 ending inventory 24 paid out in cash for wages 25 wages payable 26 quarterly rental fee ( 3 months) 27 depreciation of asset