Selected transactions completed by a proprietorship are described below. Indicate the effects of each transaction on assets (A), liabilities (L), and owner's equity (OE) by inserting "+" for increase, "-" for decrease, and "NE" for no effect in the appropriate columns at the right. If appropriate, you may insert more than one symbol in a column. L OE b. Paid rent expense Purchased supplies on account Received cash for providing services to customers Billed customers for services on C. d. account Paid cash to owner for personal use > Austin Enterprises was started by Daniel Austin. During the current yes, Daniel Austin invested 18,000 in the business. Based on the following and-of-period spreadsheet Balance Sheet Dr. Dr. Cr. 26.500 7.000 1.000 18.500 Account Title Cash Accounts Receivable Supplies Equipment Accumulated Depe-Evo Accounts Payable Wipes Payable Daniel Austin, Capital Daniel Austin, Drawing Fees Eamed Wapes Expense Austin Enterprises End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Dr. Cr. 26,500 7,000 3,000 15.500 5,000 11,000 1.000 0.000 2.000 59,500 59.00 19,000 19,000 7,000 7.000 3,500 3.500 14,500 54.500 29.500 59,500 30,000 59,500 59.500 5.000 11,000 1,000 3.000 2.000 Depreciation Expense 55.000 25.000 Net income 30,000 55.000 55.000 Preare an inome statement for the year ended December 31 Austin Enterprises Income Statement the Yaarom Net income 30,000 59,500 30,000 55,000 59,500 55,000 Prepare an income statement for the year ended December 31 Austin Enterprises Income Statement For the Year Ended December 31 Expenses Total expenses Prepare the statement of owner's eauity for the year ended December 31. If an amount box does not require an entry, leave it blank. Austin Enterprises Statement of Owner's Equity For the Year Ended December 31 Prepare the balance sheet for Austin Enterprises for the year ended December 31 Prepare the balance sheet for Austin Enterprises for the year ended December 31. Austin Enterprises Balance Sheet December 31 Assets Ourrent assets Total current assets Property, plant, and equipment: = Total property, plant and equipment Total assets Liabilities Current liabilities: Total liabilities Owner's Equity Total liabilities and owner's equity