Debit Credit 1) Prepare an income statement for the year ended December 31, 2019. 3) Prepare a Balance Sheet for December 31, 2019 Income Statement Balance Sheet For Year Ended December 31, 2019 December 31, 2019 Revenues Assets Total revenues Expenses Trial Balance Amount 9,700 38,000 27,300 800 6,500 12,000 6,470 1,500 1,200 25,000 54,700 20,000 315,000 215,800 36,400 7,200 24,000 6,170 807,740 Account Cash Accounts receivable Inventory Supplies Prepaid rent Prepaid Insurance Accounts payable Salaries payable Unearned revenue Notes payable Owner's capital Owner's withdrawal Sales revenue Cost of goods sold Salaries expense Supplies expense Rent expense Utilities expense Totals Total assets Liabilities and Equity Total expenses Liabilities 2) Prepare a statement of owner's equity for the year ended December 31, 2019. The owner invested $0 during the current year. Statement of Owner's Equity For Year Ended December 31, 2019 Owner's Capital, January 1, 2019 Investment by owner 0 Tolal liabilities Equity Total liabilities and equity Instructions ONLY use cell referencing and formulas, do not type text! Using cell referencing only build the financial statements Using formulas only, create totals and sublotals Optional: Use the IF function to fill E14 with Net Income or Net Loss If you do not use the IF function, merely type Net Income or Net Loss Owner's Capital, December 31, 2019