Selected accounts of Olsevik Janitorial; Supplies, at July 31, 2017, are listed in alphabetical order below. For simplicity, all operating expenses are summarized in the Selling Expenses account and General Expenses account. Olsevik Janitorial Supplies used to periodic inventory system.

AP - 102,000 AR - 117,000 Accumulated Amortization Equipment - 61,500 B. Olsevik, capital - 863,400 B. Olsevik, withdrawals - 42,300 Cash - 46,200 Equipment - 484,000 General Expenses - 284,250 Interest Expense - 10,200 Interest Payable - 8,800 Interest Revenue - 1,500 Inventory (July 31/16) - 730,000 Inventory (July 31/17) - 525,000 Notes payable, long term - 500,000 Purchases - 1,361,000 Salaries Payable - 23,000 Salaries Discounts - 25,000 Sales Returns & Allowances - 52,800 Sales Revenue - 1,891,200 Selling Expenses - 317,250 Supplies - 16,200 Unearned SR - 34,800

1. Prepare the business's single step income statement for the year ended July 31, 2017. 2. Prepare the statement of owner's equity at July 31, 2017 3. Prepare classified balance sheet in report format at July 31, 2017