Guy McKinley started the McKinley Charter Service at the beginning of August 20X1. On August 31, 20X1, the accounting records of the business showed the following information. Equipment $ 21,000 Rent Expense $ 5,500 Accounts Receivable 3,200 Cash 6,600 Fees Income 31,500 Salaries Expense 11,400 Boats 106,000 Utilities Expense 2,200 Gasoline Expense 8,200 Supplies 4,200 Loans Payable 80,500 Initial Investment 54,000 Owners Withdrawal 3,650 Accounts Payable 5,950 Prepare an income statement and a statement of owner's equity for the month and a balance sheet as of August 31, 20X1.