• Yankee Hotel Foxtrot initiated operations on July 1, 2016. To manage the company officers and managers have requested monthly financial statements starting July 31, 2016. The adjusted trial balance amounts at July 31 are shown below. Debits Credits Cash $ 7,680 Accumulated Depreciation – Equipment $ 840 Accounts Receivable 810 Notes Payable 6,000 Prepaid Rent 1,965 Accounts Payable 2,140 Supplies 1,160 Salaries and Wages Payable 360 Equipment 11,400 Interest Payable 40 Owner’s Drawings 800 Unearned Service Revenue 580 Salaries and Wages Expense 7,145 Owner’s Capital 10,640 Rent Expense 2,740 Service Revenue 14,390 Depreciation Expense 665 Total credits $34,990 Supplies Expense 580 Interest Expense 45 Total debits $ 34,990 (a) Determine the net income for the month of July. (b) Determine the total assets and total liabilities at July 31, 2016 for Yankee Hotel Foxtrot. (c) Determine the amount that appears for Owner’s Capital at July 31, 2016.