Affordable Arrangements has just completed operations for the year ended December 31, 2016. This is the third year of operations for the company. The following data have been assembled for the business: (Click the icon to view the assembled data. (Click the icon to view the income statement) (Click on the icon to view the statement of owner's equity) Prepare the balance sheet of Allordable Arrangements as of December 31, 2016. (1f a box in not used in the table leave the box empty, do not select a label or enter a zero.) Assets Liabilities Owner's Equity i Data Table Insurance Expense $ 4,500 $ 47,000 Service Revenue 88,000 6,800 Salaries Expense Accounts Payable Office Supplies Ruth, Withdrawals 1,400 Utilities Expense Rent Expense Ruth, Capital, Jan. 1, 2016 2,100 8,900 16,000 12,000 Accounts Receivable 4,500 Cash 4,700 Equipment 17,700 Print Done Reference -X Affordable Arrangements Income Statement Year Ended December 31, 2016 Revenues: Service Revenue 88,000 $ 47,000 Expenses: Salaries Expense Rent Expense Insurance Expense 16,000 4,500 1,400 Utilities Expense Total Expenses 68,900 A 0 Net Income 19,100 Print Done i Religence Affordable Arrangements Statement of Owner's Equity Year Ended December 31, 2016 $ 12,000 Ruth, Capital, January 1, 2016 Owner contribution 0 19,100 Net income for the year $ 31,100 (8,900) Owner withdrawals $ 22,200 Ruth, Capital, December 31, 2016 Print Done