The accounting records of LeClaire Delivery Services show the following assets and liabilities as of the end of 2020 and 2019: Cash Accounts receivable Office supplies Trucks Office equipment Land Building Accounts payable Notes payable December 31 2020 2019 $ 10,275 $ 27,150 11,775 14,850 1,950 2,550 33,000 33,000 79,500 75,000 28,500 96,000 19,650 58,500 4,050 During December 2020 the owner, Jess LeClaire, purchased a small office building and moved the business from rented quarters to the new building. The building and the land it occupies cost $124,500. The business paid $66,000 in cash and a note payable was signed for the balance. LeClaire had to invest $18,100 cash in the business to enable it to pay the $66,000. The business earned a profit during 2020, which enabled LeClaire to withdraw $2,100 per month from the business for personal expenses. Required: 1-a. Prepare balance sheet for the business as of the end of 2019. LeCLAIRE DELIVERY SERVICES Balance Sheet signed for the balance. LeClaire had to invest $18,100 cash in the business to enable it to pay the $66,000. The business earned a profit during 2020, which enabled LeClaire to withdraw $2,100 per month from the business for personal expenses. Required: 1-a. Prepare balance sheet for the business as of the end of 2019. LeCLAIRE DELIVERY SERVICES Balance Sheet December 31, 2019 Assets Liabilities Equity Total assets Total liabilities and equity 1-b. Prepare balance sheet for the business as of the end of 2020. LeCLAIRE DELIVERY SERVICES Balance Sheet December 31, 2020 Assets Liabilities Total liabilities Equity Total assets Total liabilities and equity 2. Prepare a calculation to show how much profit was earned by the business during 2020. Calculation of profit for 2020: Jess LeClaire, Capital December 31, 2019 Jess LeClaire, capital December 31, 2020 Analysis Component: Compare the increase in assets from December 31, 2019, to December 31, 2020., and complete the following table. Increase in assets Increase in Assets financed by debt Increase in Assets financed by equity