In 2019, Michael Knight organized Knight Realty. At December 31, 2019, the end of the current fiscal year, the trial balance of Knight Realty is as follows:

Knight Realty
Unadjusted Trial Balance
December 31, 2019
Account Title									Debit	Credit
	Cash								$ 3,425
	Accounts Receivable								7,000
	Supplies								1,270
	Prepaid Insurance								620
	Office Equipment								51,650
	Accumulated Depreciation-Office Equipment									$ 9,700
	Accounts Payable									925
	Unearned Fees									1,250
	Michael Knight, Capital									29,000
	Michael Knight, Drawing								5,200
	Fees Earned									59,125
	Wages Expense								22,415
	Rent Expense								4,200
	Utilities Expense								2,715
	Miscellaneous Expense								1,505
									$ 100,000	$ 100,000

Data needed to determine year-end adjustments are as follows:

a.	Supplies on hand at December 31, 2019, are $380.
b.	Insurance premiums expired during the year are $315.
c.	Depreciation of equipment during the year is $4,950.
d.	Wages accrued but not yet paid at December 31, 2019, are $440.
e.	Accrued fees earned but not yet recorded at December 31, 2019, are $1,000.
f.	Unearned fees on December 31, 2019, are $750.

Required:
3.	Prepare an income statement, statement of owner's equity, and statement of financial
	position (balance sheet)