These financial statement items are for Barone Corporation at year end, July 31, 2020. Wages payable $2,300 Wages expense 46,800 Utilities expense 23,200 Equipment 35,100 Accounts payable 4,000 Service revenue 72,400 Rent revenue 9,300 2,000 Bank loan payable Common shares 33,000 Cash 29,800 8,900 Accounts receivable Accumulated depreciation, equipment Dividends declared 5,500 4,300 Depreciation expense 4,200 Interest expense 100 Income tax expense 1,300 Retained earnings. August 1, 2019 25,200 Barone issued $16,300 of common shares during the year. Prepare a single step income statement for the year, BARONE CORPORATION Statement of Income Prepare statement of changes in equity for the year. BARONE CORPORATION Statement of Changes in Equity Total Shareholders' Equity Common Shares Retained Earnings $ $