PR 1-2B Financial statements The amounts of the assets and liabilities of St. Simon Travel Service at June 30, 2012, the end of the current year, and its revenue and expenses for the year are listed below. The capital of Gwen Perez, owner, was $150,000 at July 1, 2011, the beginning of the current year, and the owner withdrew $30,000 during the current year. Accounts payable $ 25,000 Supplies $ 12,000 Accounts receivable 90,000 Supplies expense 10,000 Cash 123,000 Taxes expense 8.000 Fees earned 500,000 Utilities expense 36,000 Miscellaneous expense 11,000 Wages expense 280,000 Rent expense 75,000 Instructions 1. Prepare an income statement for the current year ended June 30, 2012. 2. Prepare a statement of owner's equity for the current year ended June 30, 2012. 3. Prepare a balance sheet as of June 30, 2012. 4. What item appears on both the income statement and statement of owner's equity? FILL IN THE BLANKS: ST. SIMON TRAVEL SERVICE Income Sant Expenses : Net income GT. SIMON TRAVEL SERVICE Stement of Owner's El Gwenere cap July 2011 Gwen Perez. cap. June 30, 2012 ST. SIMON TRAVEL SERVICE Bence Sheet Les Owner's Equity Town Total and quity