1. Use the following list of accounts for J. Carr's Delivery Service.

   Cash	$11,450
   Accounts Payable	4,450
   Fees Earned	41,500
   J. Carr, Capital January 1, 20--	14,500
   J. Carr, Drawing	7,000
   Office Supplies	250
   Rent Expense	10,000
   Accounts Receivable	7,000
   Equipment	6,000
   Wages Expense	14,000
   Repairs Expense	250
   Furniture	4,500

   Required:

   1. Prepare an income statement for the year ended December 31, 20--.

   J. Carr's Delivery Service
   Income Statement
   For the Year Ended December 31, 20--
   Revenues:
   		$
   Expenses:
   	$
   Total expenses
   		$

   2. Prepare a statement of owner's equity for the year ended December 31, 20--.

   J. Carr's Delivery Service
   Statement of Owner's Equity
   For the Year Ended December 31, 20--
   		$
   	$
   		$

   3. Prepare a balance sheet at December 31, 20--.

   J. Carr's Delivery Service
   Balance Sheet
   December 31, 20--
   Assets
   	$
   Total assets	$
   Liabilities
   	$
   Owner's Equity
   Total liabilities & owner's equity	$

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