Create a statement of assets, liabilites, and owners equity given the info in question 3

QUESTION 3: 70 points John Rench, a Plumber does his own accounting on Quick Books but wishes to have a professional accountant (like you) prepare his month ending financial statements because he needs to show them to his banker in an effort to get a loan to buy a building and move out of his garage. He brings you a listing of his accounts as of the end of January which you have copied (oh so carefully?) to a beginning Trial Balance which appears on Page 2 In your discussion he tells you: . His accounting year is a calendar year 1/1 - 12/31. The bank statement for 01/31 only showed a balance of $2,490 because the bank hit him for a $10 service charge. He received a check for $1,000 in the mail on February 5, from a customer for services rendered and billed on February 1. He received an invoice on February 2 from the gas station where he buys his gas for $100 for gasoline purchased in January. When asked about his insurance, he tells you the policy is for 12 months beginning 01/01/2018 and it has been paid in advance. He tells you he wants to depreciate his office equipment and truck using the IRS MACRS schedule. You look up the MACRS schedule and find the deprecation for this year for office equipment is $1,200 per year and $2,400 per year for the truck. He took an inventory of his plumbing supplies at 1/31 which totaled $900. His next payment on the loan on the truck is $150 due February 1. $100 reduction of principle and $50 for interest. . WORKING PAPER - BA 156 Fundamentals of Accounting TEST 3, Sheet 3 NAME A good place for a statement of assets, liabilities, and owners equity? This will be graded on conventions and accuracy