ffordable Arrangements has just completed operations for the year ended December 31, 2016. This is the third year of operations for the company. The following dat have been assembled for the business: (Click the icon to view the assembled data.) (Click the icon to view the income statement.) Click on the icon to view the statement of owner's equity.) Prepare the balance sheet of Affordable Arrangements as 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.) Assets Liabilities Owner's Equity - Data table 101 Insurance Expense $ $ 44,000 Service Revenue 2,500 78,000 1,000 15,000 Utilities Expense Rent Expense Abby, Capital, Jan. 1, 2016 Cash Salaries Expense Accounts Payable Office Supplies Abby. Withdrawals Accounts Receivable Equipment 7,200 2,100 7,400 8,000 12,400 12,000 4,800 Print Done Affordable Arrangements hot select a label Income Statement Year Ended December 31, 2016 Revenues: 78,000 Service Revenue Expenses: Salaries Expense Rent Expense Insurance Expense 44,000 15,000 2,500 1,000 Utilities Expense Total Expenses 62,500 $ 15,500 Net Income Print Done = Reference eet of Afford ty: do not select a labe Affordable Arrangements Statement of Owner's Equity Year Ended December 31, 2016 Abby, Capital, January 1, 2016 Owner contribution 12,000 Assets Net income for the year $ 0 15,500 27,500 (7.400) 20,100 Owner withdrawals Abby, Capital, December 31, 2016 Print Done