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Problem 1.3 (Financial Statements) The amounts of the assets and liabilities of Wilderness Travel Service on April 30, 2021, the end of the year, and

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Problem 1.3 (Financial Statements) The amounts of the assets and liabilities of Wilderness Travel Service on April 30, 2021, the end of the year, and its revenue and expenses for the year are provided below. The capital of Harper Borg, the owner, was $180,000 on May 1,2020 , the beginning of the year, and the owner withdrew $40,000 during the year. INSTRUCTIONS 1. Prepare an income statement for the year ended April 30, 2021. 2. Prepare a statement of owner's equity for the year ended April 30, 2021. 3. Prepare a balance sheet as of April 30, 2021. 4. What appears on both the income statement and statement of owner's equity

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