Bob Night opened The Generals Favorite Fishing Hole in April with a $90,000 investment. The work sheet prepared after the first month of operations is shown.

The Generals Favorite Fishing Hole

Work Sheet

For the Month Ended April 30, 20--

1	ACCOUNT TITLE	TRIAL BALANCE	TRIAL BALANCE	ADJUSTMENTS	ADJUSTMENTS	ADJUSTED TRIAL BALANCE	ADJUSTED TRIAL BALANCE	INCOME STATEMENT	INCOME STATEMENT	BALANCE SHEET	BALANCE SHEET
2		DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT
3	Cash	130,650.00				130,650.00				130,650.00
4	Office Supplies	500.00			400.00	100.00				100.00
5	Food Supplies	38,700.00			30,700.00	8,000.00				8,000.00
6	Prepaid Insurance	9,000.00			1,500.00	7,500.00				7,500.00
7	Fishing Boats	60,000.00				60,000.00				60,000.00
8	Accumulated Depreciation-Fishing Boats				1,000.00		1,000.00				1,000.00
9	Accounts Payable		66,500.00				66,500.00				66,500.00
10	Wages Payable				500.00		500.00				500.00
11	Bob Night, Capital		90,000.00				90,000.00				90,000.00
12	Bob Night, Drawing	6,000.00				6,000.00				6,000.00
13	Registration Fees		171,700.00				171,700.00		171,700.00
14	Wages Expense	40,000.00		500.00		40,500.00		40,500.00
15	Rent Expense	40,000.00				40,000.00		40,000.00
16	Office Supplies Expense			400.00		400.00		400.00
17	Food Supplies Expense			30,700.00		30,700.00		30,700.00
18	Phone Expense	1,200.00				1,200.00		1,200.00
19	Utilities Expense	2,000.00				2,000.00		2,000.00
20	Insurance Expense			1,500.00		1,500.00		1,500.00
21	Postage Expense	150.00				150.00		150.00
22	Depreciation Expense-Fishing Boats			1,000.00		1,000.00		1,000.00
23		$328,200.00	$328,200.00	$34,100.00	$34,100.00	$329,700.00	$329,700.00	117,450.00	171,700.00	212,250.00	158,000.00
24	Net Income							54,250.00			54,250.00
25								$171,700.00	$171,700.00	$212,250.00	$212,250.00

Required:

	7. Prepare the income statement.
	8. Prepare the statement of owners equity.
	9. Prepare the balance sheet.