A work sheet for Megaffin's Repairs is shown. No additional investments were made by the owner during the month. Hesadia's Repales Work Sheet Fir Monti foded January 3120 Trial Balance Adjustments Adjusted Trial alance Income Statement Balance Shet Account Title Debit Credit Debit Credit Debit Credit Credit Cash Debit Dehit Credit 3,680.00 3,680.00 3,680.00 Accounts Recelvable 1,450.00 1,450.00 1,450.00 Supplies 400.00 310.00 90.00 90.00 Prepaid Insurance 890.00 240,00 650,00 650.00 Delivery Equipment 3,150.00 3,150.00 3,150.00 Accumulated Depreciation-Delivery Equipment 50.00 50.00 50.00 Accounts Payable 1,190.00 1,190.00 1,190.00 Wages Pavable 410.00 410.00 410.00 Don Megaffin, Capital 7,634.00 7,634.00 7,634,00 Don Megatfin, Drawing 1.100.00 1,100.00 1.100.00 Repair Fees 5,000.00 5,000.00 5.000.00 Wages Expense 2130,00 410.00 2,540.00 2,540.00 Don Megallin, Drawing 1,100.00 1,100.00 1,100.00 Repair Fees 5,000.00 5,000.00 5,000.00 Wages Expense 2,130.00 410.00 2,540.00 2,540.00 Advertising Expense 100.00 100.00 100,00 Rent Expense 650.00 650.00 650.00 Supplies Expense 310,00 310.00 310.00 Phone Expense 50.00 50.00 50.00 Insurance Expense 240.00 240.00 240.00 Gas and Oil Expense 190.00 190.00 190.00 Depreciation Expense-Delivery Equipment 50.00 50.00 50.00 Miscellaneous Expense 34.00 34.00 34.00 13,824.00 13,824.00 1,010,00 1,010.00 14,284.00 14,284.00 4,164.00 5,000.00 10,120.00 0,204.00 Net Income 836.00 B36.00 5,000.00 5,000.00 10,120.00 10,120.00 Required: 1. Prepare an income statement. Megaffin's Repairs Income Statement For Month Ended January 31, 20- -3- 2. Prepare a statement of owner's equity. Megaffin's Repairs Statement of Owner's Equity For Month Ended January 31, 20- 3. Prepare a balance sheet. Megaffin's Repairs Balance Sheet January 31, 20-- Assets Current assets: 00 est #1 (Chapters 1-6) Calculator Assets Current assets: Total current assets Property, plant, and equipment: Total assets Liabilities Current liabilities: Total current liabilities Owner's Equity Total liablities and owner's equity