The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2019,

the end of the year, and its revenue and expenses for the year follow. The capital of

Harper Borg, owner, was $180,000 at May 1, 2018, the beginning of the year, and the

owner withdrew $40,000 during the year.

1. Prepare an income statement for the year ended April 30, 2019.
2. Prepare a statement of owner's equity for the year ended April 30, 2019.
3. Prepare a balance sheet as of April 30, 2019.
4. What item appears on both the income statement and statement of owner's equity?

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Accounts payable Accounts receivable Cash Fees earned Miscellaneous expense Rent expense $ 25,000 210,000 146,000 875,000 15,000 75,000 Supplies Supplies expense Taxes expense Utilities expense Wages expense $9,000 12,000 10,000 38,000 525,000