Decorating Arrangements has just complinted operations for the year ended December 31, 2016. This is the third year of operations for the company. The following data have been assembled to the busine (Click the icon to view the assembled data) (Click the loon to view the income statement. Click on the icon to view the statement of owner's equity) Prepare the balance sheet of Decorating Arrangements as of December 31, 2016. (Na box is not used in the table leave the box empty, do not select label or entera 2000.) Assets Liabilities Owner's Equity Choose from any list or enter any number in the input fields and then continue to the next question ek on the icon to view the statement of owner's equity.) of December 31, 2016. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) i Data Table 2,000 $ 37,000 80,000 Insurance Expense Service Revenue Utilities Expense Rent Expense Richards, Capital, Jan. 1, 2016 4,300 1,500 500 Salaries Expense Accounts Payable Office Supplies Richards, Withdrawals Accounts Receivable Equipment 11,000 4,500 13,300 7,000 Cash 7,500 26.600 Print Done fields and then continue to the next question. - Decorating Arrangements Income Statement Year Ended December 31, 2016 Revenues: Service Revenue 80,000 Expenses: Salaries Expense Rent Expense Insurance Expense Utilities Expense 37,000 11,000 2,000 500 Total Expenses Net Income 50,500 29,500 Print Done then continue to the next question. Reference Decorating Arrangements Statement of Owner's Equity Year Ended December 31, 2016 Richards, Capital, January 1, 2016 Owner contribution 13,300 0 Net income for the year 29,500 $ Owner withdrawals 42,800 (4.500) Richards, Capital, December 31, 2016 $ 38,300 Print Done continue to the next