The records of Roadmaster Auto Rentals show the following information as of December 31. The owner, Rob Fletcher withdrew $52,000 during the year for personal expenses. Prepare December income statement, a December statement of owner's equity, and a December 30 balance sheet.

Accounts payable

$36,000

Wages expense

$75,000

Insurance expense

2,000

Advertising expense

22,000

Accounts receivable

24,000

Cash

11,000

R Fletcher, Capital,

January 1

150,000

Office Furniture

15,000

Airplanes

150,000

Maintenance expense

39,000

Notes payable

47,000

Revenues

217,000

Hangar

60,000