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 $23,000 Insurance expense $6,100 Accounts receivable 62,500 Mortgage 73,200 Advertising expense 30,500 Rent expense 32,900 Capital at beginning 50,600 Service income 359,900 Cash at bank 25,000 Supplies expense 12,800 Drawings 57,100 Supplies 26,800 Electricity expense 17,600 Telephone expense 10,900 Equipment 117,100 Wages expense 107,400 Total liabilities & equity Income Current liabilities Total assets Current assets Non-current assets Total current assets Total non-current liabilities Total equity Net profit Non-current liabilities Total expenses Expenses Total non-current assets Equity Total current liabilities Holman Industries Income statement for the year ending 31 December 2017