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Youranswer is incorrect. iry again The income statement for the year 2020 of Bonita Co. contains the following information: Revenues $70900 Expenses: Salaries and Wages Expense Rent Expense Advertising Expense Supplies Expense Utilities Expense Insurance Expense $45400 12500 10100 6300 2300 2000 Total expenses 78600 Net income (loss) (7700) After all closing entries have been posted, the revenue account will have a balance of $70900 debit. 0 $7700 credit. O $70900 credit. O so. Concord Real Estate Balance Sheet December 31. 2020 60400 15200 85400 161000 s 24800 Accounts Payable Cash Prepaid Insurance Accounts Receivable Inventory Land Held for Investment Land Buildings Salaries and Wages Payable 30400 49000 Mortgage Payable 71100 84200 Total Liabilities 118200 $100400 Less Accumulated Owner's Capital 368100 Deprediation (19700) 80700 Trademark 70700Total Liabilities and Total Assets $529100 Owner's Equity $529100 The total dollar amount of assets to be classified as property, plant, and equipment is O $218600. O $283100. O $302800. O $198900. Multiple Choice es The following items are taken from the financial statements of the Sunland Service for the year ending December 31, 2020 Accounts payable Accounts receivable Accumulated depreciation - equipment Advertising expense Cash Owner's capital (1/1/20) Owner's drawings Depreciation expense Insurance expense Note payable, due 6/30/21 Prepaid insurance (12-month policy) Rent expense Salaries and wages expense Service revenue Supplies Supplies expense Equipment 17600 10800 27800 20700 15200 98800 13700 11700 2900 71000 5800 16800 31500 133000 4000 6100 209000 What is the balance that would be reported for owner's equity at December 31, 2020? What is the balance that would be reported for owner's equity at December 31, 2020? $143800 $42400 e $154600 O $128400