Prepare an income statement, a capital statement (statement of owners equity), and a balance sheet using the information below.

Adjustments Dr. Cr. Income Statement Dr. Cr. Trial Balance Dr. Cr. 17,150 27,780 47,964 4,410 2,370 30,000 2,420 1,920 Account Title Cash Accts receivable Merchandise inv. Prepaid insurance Store Supplies Store equipment Accum. deprec. Accounts payable M. Moser, capital M. Moser, drawing Sales Purchases Advertising exp. Rent expense Salaries exp. Utilities exp. 1,500 Balance Sheet Dr. Cr. 17,150 27,780 47,964 1,990 450 30,000 4,500 12,420 105,572 14,400 Adj. T/Balance Dr. Cr. 17,150 27,780 47,964 1,990 450 30,000 0 4,500 0 12.420 0 105,572 14,400 0 299,400 192,900 0 7,950 0 28,800 0 42,280 0 5,628 0 3,000 12,420 105,572 14,400 299,400 299,400 192,900 7,950 30,000 39,840 5,628 420,392 1,200 192,900 7,950 28,800 42,280 5,628 e 2,440 420,392 20,900 35,902 Income summary Supplies expense Insurance expense Depreciation exp. Prepaid rent b 1,920 3,420 1,500 1,200 20,900 0 20.900 1,920 3,420 1,500 1,200 1.440 0 1,440 ' 29,380' 425,332' 444,232 1,920 3,420 1,500 c d 0 1,200 1.440 10,480 159,834 Net income 284,398 320,300 35,9021 0 320,300 320,300 140,934 18,900 159,834 159,834