Income Statement Shaded cells have feedback Instructions The amounts of the assets and liabilities of Excalibur Travel Agency at December 31, 2016, the end of the year, and its revenue and expenses for the year follow. The capital of James Brewster, owner, was $645,000 on January 1, 2015, the beginning of the year. During the year, James withdrew $37,000 Accounts Accounts payable Accounts receivable Cash Fees eamed Amounts $73,000 277,000 191,500 918,700 547,000 6,000 34,000 6,000 Land Miscellaneous expense Rent expense Supplies 4,200 Supplies expense Utilities expense Wages expense 29,000 505,000 N Required: 1. Prepare an income statement for the year ended December 31, 2045 2. Prepare a statement of owner's equity for the year ended December 31, 2045." 3. Prepare a balance sheet as of December 31, 2045, 4. What item appears on both the statement of owner's equity and the balance sheet? "Be sure to complete the statement heading, Refer to the information given and the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. Shaded cells have feedback Income Statement 1. Prepare an income statement for the year ended December 31, 2015. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. A colon () will automatically appear if it is required. Excalibur Travel Agency Score: 43/75 Income Statement (Label) 1 Fees earned 2 Expenses 3 Miscellaneous expense W 2. Prepare a statement of owner's equity for the year ended December 31, 2015. Be sure to complete the statement heading Refer to the information given and the lists of Accounts. Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. If required, use the minus sign to indicate any decreases in equity Question not attempted. Score: 0/47 Excalibur Travel Agency Statement of Owner's Equity (Label) 1 2 3. Prepare a balance sheet as of December 31, 2045. Be sure to complete the statement heading Refer to the list of Accounts. Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. When entering assets, enter them in order of liquidity Question not attempted. Excalibur Travel Agency Score: 0/73 Balance Sheet (Label) 1 Assets 2