ASAP

As the accountant for a sole proprietorship, Kwantlen Inspirations, which is wholly owned by Jack Kwantlen. The general ledger accounts and their year-end adjusted balances are listed below: Accounts payable $210,500 Accounts receivable 210,900 Accumulated depreciation 1,230,000 Advertising expense 45,200 Cash 210,300 Kwantlen, capital 1,180,000 Depreciation expense 310,400 Drawings 150,700 Notes payable ($105,000 to be paid next year) 916,800 Production equipment 2,150,000 Investments in equity securities 560,000 Other expenses 821,500 Prepaid expense 5,600 Rent revenue 20,800 Service revenue 975,600 Unearned rent 61,000 Wage expense 130,100 Additional information: Investments in equity securities in other businesses) will be sold within a year. Of the year-end notes payable, $105000 will be paid within one year. The owner invested an additional $40,000 in the business during the year. Instructions - Using the above information, prepare the following statements in proper form for the fiscal year ended May 31, 2020: Income Statement, Statement of Owner's Equity, and Balance Sheet in classified format