Exercise 1-14 Presented Services ances of the business for September below are the balances of the assets and liabilities of Summerland Consulting Business as of September 30, 2017. Also included are the revenue and expense account bal- balance sheet on, . $62,000 Computer Equipment...0,000 2.Total assets, $115,000 Consulting Service Revenu.. Accounts Receivable. Accounts Payable.... Salary Expens. M. Hall, Capital. 25000 Supplies .. 16,000 Note Payabl... 5,000 50,000 4,000 5,000 10,000 Rent Expense... Required 1. What type of business entity or organization is Summerland Consulting Services? How can you tell? 2. Prepare the balance sheet of Summerland Consulting Services as of September 30, 2017. 3. What does the balance sheet report-financial position or operating results? Which financial statement reports the other information