End ol yean Total owners equity Changes during year in owner's equity 100.000 220,000 75,000 Total espenses Determine she missing amounts E1-12 The following information relates to Armanda Co. for the year 2017 and owners equity se no 5) Owners capital, January 1. 2017 545000 Advertising expense 1,800 10,400 Owner's drawings during 2017 6.000 Rent expense 63,600 Uvilities expense 3,100 Salaries and wages expense InstructioNs Afher analyzing the data, prepare an income statement and an owner's equity seatement for the year ending December 31, 2017. E1-13 Abby Roland is the bookkeeper for Cheng Compary, Abby has been trying to deter Comect an incorreesty mine the correct halance sheet for Cheng Company Cheng's balance sheet is shown below. 5) Balance Sheet December 31, 2017 Liabilities $15,000 Accounts payable$21.000 Supplies Equipment 8,000 Accounts receivable (6.500) 46,000 Owner's capital67.500 Owners drawings 13,000 82,000 Tol liabilities and Total assets00 owner's equity$820040 nstructions Prepare a correct balance sheet. E1-14 Loren Satina is the sole owner of Clear View Park, a public camping ground near Compute net income and the Lake Mead National Recreation Area. Loren has compiled the following financial information as of December 31, 2017 prepare a balance sheet (L0 5) Revenues during 2017-camping fees Revenues during 2017-general store Accounts payable Fair value of equipment Notes payable $140,000 60,000 $140,000 65,000 11,000 Expenses during 2017 150,000 23,000 Accounts receivable Cash on hand Original cost of equipment Instructions (a) Determine Loren Satina's net income from Clear View Park for 2017 b) Prepare a balance sheet for Clear View Park as of December 31,2017 105,500 E1-15 Presented below is financial information related to the 2017 operations of Sea Legs Prepare an income statement Cruise Company (LO 5) Maintenance nd regpairs exprmie $ 95,000 Utilities expense Salaries and wages expense Advertising expense Ticket revenue 13,000 142,000 24,500 410,000