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income stayemnt for accojnts below for Clover Company for the year ended December 31, 2020. Prepare an income statement, statement of owner's equity, and a

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for Clover Company for the year ended December 31, 2020. Prepare an income statement, statement of owner's equity, and a balance sheet Clover Company Income Statement For the Year Ended December 31, 2020 Revenues Expenses Total expenses Net Income Clover Company Statement of Owner's Equity For the Year Ended December 31, 2020 Beginning Capital, January 1, 2020 Net Income for 2020 Less withdrawals for 2020 Increase in capital Ending Capital, December 31, 2020 Clover Company Balance Sheet December 31, 2020 Current assets Total current assets Property, plant, and equipment Total assets Current Liabilities Total current liabilities Ending Capital (Owner's Equity) Total liabilities and owner's equity Assume the following normal account balances prior to the closing of the temporary accounts: Cash $ 13,000 Accounts Receivable 1,500 Equipment 5,000 Accumulated Depreciation 400 Accounts Payable 200 Wages Payable 1,400 Owner's Capital 15,600 Drawing/Owner's Withdrawal 1,300 Consulting Fees (Revenue) 6,400 Wages Expense 1,000 Rent Expense 1,500 Utilities Expense 300 Depreciation Expense 400 1

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