The amounts of the assets and liabilities of Excalibur Travel Agency at December 31, 20Y5, the end of the year, and its revenue and expenses for the year follow. The capital of James Brewster, owner, was $710,000 on January 1, 20Y5, the beginning of the year. During the year, James withdrew $44,500. Accounts Accounts payable Accounts receivable Cash Fees earned Land Miscellaneous expense Rent expense Supplies Amounts $ 73,500 302,000 201,900 967,000 576,500 6,800 38,100 5.800.

Required: 1. Prepare an income sfatement for the rear ended December 31, Jovs. 2. Prepare a bucace aheet as of December at, 20Vs. The amounts of the gszets and liabilities Excalbur Travel Agency at December 31, 20Y5, the end of the year, and its texenue and expenses for the year follow. The capital of 1,20Y5, the beglaning of the year, During the year, James withdrew $44,500 Required: 1. Prepare an income statement for the year ended Decomber 3t, 20y5. 3. Prepare a balance sheet as of December 3t, zov5. - 4. What dem apsears on both the statement of cwneris equity and the batance shev?? provided far the exact wanding of the answer choices for text entribs