Problem 4-4A Objective: To prepare financial statements from adjusted account balances Following is a list of accounts and their adiusted balances from the work sheet of The Shannon Group, a management consulting firm for the six months ended June 30, 20X2: Account Adjusted Balance Accounts Payable $ 16,650 Accounts Receivable 10,000 Accumulated Depreciation-Automobiles 13,500 Accumulated Depreciation Office Equipment 4,500 Automobiles 35,000 Auto Supplies 2,575 Auto Supplies Expense 1,620 Cash 13,750 Depreciation Expense-Automobiles 6.200 Depreciation Expense-Office Equipment 1,200 Fees Earned 154,000 Insurance Expense 3,200 Office Equipment 15,000 Office Supplies 8,500 Office Supplies Expense 9,210 Dana Shannon, Capital 60,580 Dana Shannon, Drawing 26,000 Prepaid Insurance 9,600 Rent Expense 4,800 575 Repairs Expense Salaries Payable 2,000 Salaries Expense 104,000 Directions: 1. Prepare an income statement for the six months ended June 30, 20X2. 2. Prepare a statement of owner's equity for the six months ended June 30, 20X2. 3. Prepare a balance sheet as of June 30, 20X2