The following financial information belongs to Sky Company on December 31, 2019: Supplies $240,000 Revenues $2,000,000 Sky Capital 400,000 Equipment 640,000 Advertising expense 80,000 Cash 1,200,000 880,000 80,000 Accounts payable Drawings Salaries expense Utilities expense Accounts receivable Rent expense 400,000 320,000 240,000 80,000 Required: Prepare the income statement, statement of owner's equity and balance sheet of Sky Company on December 31, 2019