prepare income statement and statement of changes in equity and balnce sheet

Debit Account Titles $ 29,500 Cash 16,500 Accounts Receivable Prepaid Rent Accounts Payable 3,000 $ 7,000 Salaries Payable 2,400 Common Stock 35,000 Service Revenue 72,000 Operating Expenses 35,000 Rent Expense 9,000 Salaries Expense 23,400 Totals $116,400 $116,400