Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December.

Cash	$ 8,600	A. Lopez, Capital	$ 12,800
Accounts receivable	3,800	A. Lopez, Withdrawals	2,300
Notes receivable	2,800	Consulting revenue	13,500
Office supplies	1,800	Rental revenue	800
Prepaid insurance	1,300	Salaries expense	3,300
Equipment	5,500	Rent expense	2,300
Accounts payable	2,260	Advertising expense	460
Notes payable	2,700	Utilities expense	260
Unearned revenue	360

Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of owner's equity. The A. Lopez, Capital account balance at December 1 was $0, and the owner invested $12,800 cash in the company on December 2. 3. Prepare a December 31 balance sheet. Hint: Use the A. Lopez, Capital account balance calculated in part 2.