The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 20Y5, the end of the year, and its revenue and expenses for the year are listed below. The capital of Harper Borg, owner, was $49,420 at May 1, 20Y4, the beginning of the year, and the owner withdrew $26,200 during the year.

Accounts payable	$16,570
Accounts receivable	88,720
Cash	179,080
Fees earned	650,200
Miscellaneous expense	5,190
Rent expense	86,480
Supplies	7,710
Supplies expense	13,840
Taxes expense	10,000
Utilities expense	51,890
Wages expense	247,080

Required:

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1. Prepare an income statement for the year ended April 30, 20Y5.

Accounts receivableCashFees earnedHarper Borg, capitalHarper Borg, drawingNet incomeWages expenseFees earned		$Fees earned
Expenses:
Accounts payableCashFees earnedHarper Borg, capitalHarper Borg, drawingSuppliesWages expenseAccounts payable	$Accounts payable
Accounts payableAccounts receivableFees earnedHarper Borg, capitalNet incomeRent expenseSupplies	- Select -
Accounts payableAccounts receivableCashFees earnedHarper Borg, capitalSuppliesUtilities expense	- Select -
Accounts receivableCashFees earnedNet LossHarper Borg, drawingSupplies expenseSupplies	- Select -
Accounts receivableCashFees earnedNet LossHarper Borg, drawingTaxes expenseSupplies	- Select -	blank
Accounts payableAccounts receivableCashFees earnedHarper Borg, capitalHarper Borg, drawingMiscellaneous expense	- Select -
Total expenses		fill in the blank ddf4aef6afbb02b_15
Accounts payableCashFees earnedNet incomeNet loss		$- Select -

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2. Prepare a statement of owner's equity for the year ended April 30, 20Y5.

Harper Borg, capital, May 1, 20Y4Harper Borg, capital, April 30, 20Y5CashWithdrawalsNet income for the year		$- Select -
Harper Borg, capital, May 1, 20Y4Harper Borg, capital, April 30, 20Y5CashWithdrawalsNet income for the year	$- Select -
Harper Borg, capital, May 1, 20Y4Harper Borg, capital, April 30, 20Y5CashWithdrawalsNet income for the year	- Select -
Increase in owner's equityDecrease in owner's equityCashWithdrawalsNet income for the year		- Select -
Harper Borg, capital, May 1, 20Y4Harper Borg, capital, April 30, 20Y5CashWithdrawalsNet income for the year		$- Select -

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2. Follow Example Exercise 1-5. Recall that the statement of owner's equity considers additional investments of the owner and net income for the year and withdrawals to calculate the ending capital.

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3. Prepare a balance sheet as of April 30, 20Y5. When entering assets, enter them in order of liquidity.

Assets
Accounts payableCashFees earnedRent expenseHarper Borg, capitalHarper Borg, drawing	$- Select -
Accounts payableAccounts receivableFees earnedHarper Borg, drawingHarper Borg, capitalWages expense	- Select -
Accounts payableHarper Borg, capitalHarper Borg, drawingSupplies expenseSuppliesUtilities expense	- Select -
Total assets	$fill in the blank 0d33edff8fd8fbf_7
Liabilities
Accounts payableAccounts receivableCashFees earnedHarper Borg, drawingHarper Borg, capital	$- Select -
Owner's Equity
Accounts payableAccounts receivableCashHarper Borg, capitalHarper Borg, drawingWages expense	- Select -
Total liabilities and owner's equity	$fill in the blank 0d33edff8fd8fbf_12