Guy McKinley started the McKinley Charter Service at the beginning of August 2019. On August 31, 2019, the accounting records of the business showed the following information.

Equipment	$	22,500			Rent Expense	$	5,800
Accounts Receivable		3,500			Cash		6,900
Fees Income		32,250			Salaries Expense		11,700
Boats		107,500			Utilities Expense		2,350
Gasoline Expense		8,500			Supplies		4,500
Loans Payable		82,000			Initial Investment		55,500
Owners Withdrawal		3,300			Accounts Payable		6,800

Prepare an income statement and a statement of owner's equity for the month and a balance sheet as of August 31, 2019.