Answer separately: 1. The adjusted trial balance of Miller Company at December 31, 2020, includes the following accounts: Owners Capital $16,400, Owners Drawings $7,000, Service Revenue $39,000, Salaries and Wages Expense $16,000, Insurance Expense $2,000, Rent Expense $4,000, Supplies Expense $1,500, and Depreciation Expense $1,300. Prepare an income statement for the year.

2. Partial adjusted trial balance data for Miller Company is presented in the previous exercise. The balance in Owners Capital is the balance as of January 1. Prepare an owners equity statement for the year assuming net income is $14,200 for the year.