Income Statement: Revenue: Revenue Expenses: Salary Expense Rent Expense Utilities Expense Depreciation Expense Total Expenses:

Net Income: 23,000 15,000 65,000 18,000 121,000 23,000 144,000

Statement of Owners Equity: ISDO, Capital Add: Net Income Less: Owner Withdrawals ISDO, Capital 16,000 23,000 6,500 32,500

Balance Sheet: Assets Cash Accounts Recievable Office Supplies Prepaid Insurance Total Assets: 10,000 26,000 27,500 15,000 78,500 Liabilities Accounts Payable Notes Payable Taxes Payable Total Liabilities: Owners Equity ISDO, Capital Total Owners Equity Total Liabilities and Owner's Equity 32,500 32,500 78,500 18,000 13,000 15,000 46,000