The account balances and select financial statements of Wayans Towing Service at June 30, 2016, follow: (Click the icon to view the account balances.) Reference (Click the icon to view the income statement for the month ended June 30, 2016.) (Click the icon to view the statement of owner's equity for the month ended June 30, 2016.) Wayans Towing Service Income Statement Requirements 1. Prepare the balance sheet for Wayans Towing Service as of June 30, 2016. 2. What does the balance sheet report? Month Ended June 30, 2016 Revenues Service Revenue $ 12,500 Requirement 1. Prepare the balance sheet for Wayans Towing Service as of June 30, 2016. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) $ Expenses Salaries Expense Rent Expense Total Expenses 1,900 450 2,350 Assets Liabilities $ 10,150 Net Income Owner's Equity Print Done Data Table Requirement 2. What does the balance sheet report? $ 16,300 Service Revenue $ 12,500 The balance sheet reports Equipment Office Supplies 1,100 Accounts Receivable 8,000 12.000 Notes Payable Rent Expense 6,500 Accounts Payable 450 Wayans, Capital, June 1, 2016 2,000 Salaries Expense 3.250 Cash 1,900 Wayans, Withdrawals 4,500 Reference Wayans Towing Service Statement of Owner's Equity Month Ended June 30, 2016 Wayans, Capital, June 1, 2016 Owner contribution Net income for the month $ 3,250 0 10,150 $ 13,400 (4,500) Owner withdrawal Wayans, Capital, June 30, 2016 $ 8,900 Print Done