Okabe Company ended its fiscal year on July 31, 2017. The companys adjusted trial balance as of the end of its fiscal year is shown below.

a) Prepare an income statement for the year

b) Prepare an owners equity statement for the year. Okabe did not make any capital investments during the year.

c) Prepare a classified balance sheet at July 31

OKABE COMPANY Adjusted Trial Balance July 31, 2017
No.		Account Titles		Debit		Credit
101		Cash		$10,500
112		Accounts Receivable		9,400
157		Equipment		15,800
158		Accumulated Depreciation-Equip.				$7,400
201		Accounts Payable				4,000
208		Unearned Rent Revenue				1,500
301		Owners Capital				47,200
306		Owners Drawings		15,800
400		Service Revenue				63,100
429		Rent Revenue				6,600
711		Depreciation Expense		7,200
726		Salaries and Wages Expense		56,400
732		Utilities Expense		14,700
				$129,800		$129,800