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 Accounts Receivable Fees Income Boats Gasoline Expense Loans Payable Owners. Withdrawal $ 25,000 2,200 35,500 101,000 9,000 82,500 5,050 Rent Expense Cash salaries Expense Utilities Expense Supplies Initial Investment Accounts Payable $ 6,300 7,400 12,200 1,700 5,000 49,000 7,850 Prepare an income statement and a statement of owner's equity for the month and a balance sheet as of August 31, 2019. Complete this question by entering your answers in the tabs below. Income Statemet Stmt of Owners Eqty Balance Sheet Prepare a balance sheet for August 31, 2019 $ Assets Equipment Boats Cash Guy McKinely, Drawing MCKINLEY CHARTER SERVICE Balance Sheet August 31, 2019 Liabilities $ 25,000 Accounts receivable 101,000 Loans Payable 7400 Accounts payable 5,050 Owner's Equity 3,100 Guy McKinely, Capital $ 141,550 Total Liabilities and Owner's Equity 2,200 82,500 7.850 Total Assets 49,000 141,550 $