Memorex Arrangements has just completed operations for the year ended December 31, 2016. This is the third year of operations for the company. The following data have been assembled for the business: (Click the icon to view the assembled data.) . () (Click the icon to view the income statement.) (Click on the icon to view the statement of owner's equity.) .) Prepare the balance sheet of Memorex Arrangements as of December 31, 2016. (If a box is not used in the table leave the box empty; do no X Reference Assets Liabilities Memorex Arrangements Statement of Owner's Equity Year Ended December 31, 2016 Sam, Capital, January 1, 2016 Owner contribution S 11,500 0 Owner's Equity Net income for the year 43,000 S 54,500 Owner withdrawals (27,400 S 27,100 Sam, Capital, December 31, 2016 , , - X Reference Print Done Memorex Arrangements Income Statement Year Ended December 31, 2016 - X $ 98,000 Data table Revenues Service Revenue Expenses: Salaries Expense Rent Expense Insurance Expense $ 43,000 Insurance Expense $ 4,000 $ $ 43.000 7.000 Service Revenue 98,000 Salaries Expense Accounts Payable Office Supplies 4,000 1.000 5.400 2.000 1,000 Utilities Expense Utilities Expense Rent Expense 7.000 Sam. Withdrawals Total Expenses 55,000 27.400 5.500 . Sam, Capital, Jan 1, 2016 Accounts Receivable $ 43.000 11,500 5.000 Net Income Cash Equipment 20.000 Print Done Print Done 1