Chapter 1 Introduction to Accounting and Business 45 Accounts payable Accounts receivable Cash Fees earned Land Miscellaneous expense 69,500 Rent expense 285,000 Supplies 90,500 Supplies expense $36,000 5,500 4,100 28,500 510,000 912,500 Utilities expense Wages expense 544,000 6,400 Instructions 1. Prepare an income statement for the year ended December 31, 2019. 2. Prepare a statement of owner's equity for the year ended December 31, 2019. 3. Prepare a balance sheet as of December 31, 2019. 4. What item appears on both the statement of owner's equity and the balance sheet? R 1-3A Financial statements OBJ