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The partial worksheet for the Lorado Insurance Agency for the month ended October 31, 20X1, is shown below. The owner made no additional investments during

The partial worksheet for the Lorado Insurance Agency for the month ended October 31, 20X1, is shown below. The owner made no additional investments during the month. Income Statement Balance Sheet Account Name Debit Credit Debit Credit Cash 9,000 Accounts receivable 11,000 Supplies 5,500 Equipment 30,000 Accumulated depreciationEquipment

The partial worksheet for the Lorado Insurance Agency for the month ended October 31, 20X1, is shown below. The owner made no additional investments during the month.

Income Statement Balance Sheet
Account Name Debit Credit Debit Credit
Cash 9,000
Accounts receivable 11,000
Supplies 5,500
Equipment 30,000
Accumulated depreciationEquipment 8,000
Accounts payable 9,000
Ashleigh Lorado, Capital 32,000
Ashleigh Lorado, Drawing 2,000
Fees income 23,300
Salaries expense 12,200
Rent expense 1,000
Supplies expense 600
Depreciation expenseEquipment 1,000
Totals 14,800 23,300 57,500 49,000
Net income 8,500 8,500
23,300 23,300 57,500 57,500

Prepare an income statement, a statement of owner's equity, and a balance sheet for the Lorado Insurance Agency for the month ended October 31, 20X1.

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