A. Calculate the ending balance for each account. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Assets Owner's Equity Investment Liabilities Accounts Cash Inventory Equipment Payable Wages Payable by Owner Withdrawals 1 $50,225 $50,225 2 (6,200) $6,200 3 $23,500 $23,500 4 1,250 S (750) 6 7 8 3,200 9 10 (1,000) 1,000 Ending Balance 46,725 s 6,200 24,500 24,275 3,300 V 49,850 A-L+OE 77,425 27,575 v 49,850 $1,250 (750) 600 (600) $3,300 (3,300) 3,200 175 (175) 8. Create the Income Statement. Use minus sign to indicate the loss. Pancake Palace Income Statement For the Month Ended July 31