holman industries began operations on 1 january 2017. on 31 december 2017, records showed the following asset, liability, equity, income and expense accounts:

accounts payable $17,000 insurance expense $4,400 accounts receivable 45,100 mortgage 52,800 advertising expense 22,000 rent expense 23,800 capital at beginning 36,100 service income 259,600 cash at bank 18,000 supplies expense 9,200 drawings 41,200 supplies 19,400 electricity expense 12,700 telephone expense 7,800 equipment 84,500 wages expense 77,400