Financial Statements

The amounts of the assets and liabilities of Wilderness Travel Service at April $30,2019,$ the end of the year, and its revenue and expenses for the year are listed below. The capital of Harper Borg, owner, was $$42,550$ at May $1,2018,$ the beginning of the year, and the owner withdrew $$22,600$ during the year.

Accounts payable $$14,180$

Accounts receivable $75,910$

Cash $153,230$

Fees earned $559,900$

Miscellaneous expense $4,470$

Rent expense $74,470$

Supplies $6,600$

Supplies expense $11,910$

Taxes expense $10,000$

Utilities expense $44,680$

Wages expense $212,760$

Required:

Question Content Area

$1.$ Prepare an income statement for the year ended April $30,2019.$

$2.$ Prepare a statement of owner's equity for the year ended April $30,2019.\text{'}$

$3.$ Prepare a balance sheet as of April $30,2019.$ When entering assets, enter them in order of liquidity.