Maxwell Engineering is an enginering firm. Following are the amount of the assets and liabilities maxwell engineering at december 31, the end of the current year, and its revenue and expenses for the year ended on that date. The capital of Mack Maxwell, owner, was $84,950 at January 1, the beginning of the current year, the owner withdrew $50,000 durinng the current year.

Accounts payable $13,100

Accounts revievable $52,000

Advertising expense $7,500

CASH $37,200

Fees earned $ 329,250

land $90,000

Miscellaneous expense $1,250

Rent expense $42,000

supplies $6,750

Supplies expenses $13,800

taxes expenses 10,500

utilities expense 18,100

wagees expense 99,700

wages payable 1,500

a. Prepare an income statement for the current year ended December 31

b. Prepare a statement of owners equity for the current year ended December 31

c. Prepare a balance sheet as of December 31 of the current year