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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
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 $43,000 Accounts Accounts payable Accounts receivable Amounts $65,500 264,000 Cash 180,500 Fees earned 879,200 Land 541,000 Miscellaneous expense 6,900 Rent expense 32,000 5,200 Supplies Supplies expense 4,100 Utilities expense 28,000 TARRA BIRDS ENDO ULUUU 5,200 Supplies Supplies expense Utilities expense Wages expense 4,100 28,000 520,000 Required: 1. Prepare an income statement for the year ended December 31, 2019. 2. Prepare a statement of owner's equity 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 the answe choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or there is a decrease in owner's equity, er that amount as a negative number using a minus sign
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