Land	$14,000	Owner contribution, 2024	$27,000
Notes Payable	34,000	Accounts Payable	15,000
Property Tax Expense	3,200	Accounts Receivable	1,600
Hayes, Withdrawals	33,000	Advertising Expense	11,000
Rent Expense	9,000	Building	187,700
Salaries Expense	60,000	Cash	3,200
Salaries Payable	1,400	Equipment	15,000
Service Revenue	235,000	Insurance Expense	2,500
Office Supplies	14,000	Interest Expense	7,200
Hayes, Capital, Dec. 31, 2023	49,000

1.	Prepare Dog Gone It Daycare's income statement for the year ended December 31, 2024.
2.	Prepare the statement of owner's equity for the year ended December 31, 2024.
3.	Prepare the balance sheet as of December 31, 2024.

Requirement 1.

		Dog Gone It Daycare
		Income Statement
		Year Ended December 31, 2024
Revenues:
	Service Revenue			235,000
Expenses:
	Salaries Expense		60,000
	Rent Expense		9,000
	Property Tax Expense		3,200
	Insurance Expense		2,500
	Advertising Expense		11,000
	Interest Expense		7,200
		Total Expenses		92,200
Net Income