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Instructions The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019, the end of the year, and its revenue and

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Instructions The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The capital of lan Eisele, owner, was $680,000 on January 1, 2019, the beginning of the year. During the year, lan withdrew $45,000. Accounts Accounts payable Amounts $71,000 Accounts receivable 268,000 Cash 191,500 Fees earned 881,000 Land 546,000 Miscellaneous expense 6,700 Rent expense 33,000 5,700 Supplies Supplies expense 4,100 Utilities expense 27,000 Wages expense 505,000 Required: 1. Prepare an income statement for the year ended December 31, 2019.* 2. Prepare a statement of owner's equally for the year ended December 31, 2019.- 3. Prepare a balance sheet as of December 31, 2019. 4. What item appears on both the statement of owner's equity and the balance sheet? *Refer to the information given and the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of

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