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As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital,
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,800 9, 8 6,800 5, 800 24, 600 4, 800 8,600 13,800 34, 600 23,600 20, 800 12, 800 8,800 Note: Early in 2017, the owner invested $1,000 cash in the business Required: Prepare a year-end balance sheet for Armani Company. ARMANI COMPANY Balance Sheet December 31, 2017 Assets Liabilities Total liabilities Equity Total assets Total liabilities and equity
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