The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The capital of lan Elsele, owner, was $680,000 on January 1, 2019, the beginning of the year. During the year, lan withdrew $45,000. Accounts Accounts payable Accounts receivable Amounts $71,000 268,000 191,500 | BI ,000 Cash Fees earned Lond 546,000 Miscellaneous expense 6,700 Rent expense 33,000 as Labels and Amount Descriptions Labels X el December 31, 2019 Expenses For the Year Ended December 31, 2019 Amount Descriptions Decrease in owner's equity lan Eisele, capital, December 31, 2019 lan Elsele, capital, January 1, 2019 Increase in owner's equity Investment on July 1, 2019 Net income Nordic Travel Agency Score: 2778 Income Statement For the Year Ended December 31, 2019 2 (Labely 3 5 Score: 3/51 Nordic Travel Agency Statement of Owner's Equity for the year anded in December 31 $0.00 Baxancesa Sansar 2 Body Norino 3 ess, dividends 0.00 4 Bacances December Points: 0.65 Balance Sheet Nordic Travel Agency Score: 0/75 Balance Sheet (Label) Assets 2 3 4 5 6 7 Liabilities 00 9 Owner's equity 10 11 The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The capital of lan Eisele, owner, was $680,000 on January 1, 2019, the beginning of the year. During the year, lan withdrew $45,000 Accounts Amounts Accounts payable $71,000 Accounts receivable 268,000 191,500 Cash Feos eamed 881,000 Land Miscellaneous expense 546,000 6,700 33,000 5,700 Rent expenso Supplies 4,100 Supplies expense Uties expense Wages exponse 27,000 505,000 Required: 1. Prepare an income statement for the year ended December 31, 2018 2. Prepare a statement of owners cowly for the year ended December 31, 2018. 3. Prepare a balance as of December 31, 2018