From the trial balance and the net income or net loss determined in Exercise 3.6, prepare a statement of owner’s equity and a balance sheet for Housing Locators as of December 31, 2016. In Exercise 3.6, Using the account balances from Exercise 3.5, prepare a trial balance and an income statement for Housing Locators. The trial balance is for December 31, 2016, and the income statement is for the month ended December 31, 2016.

In Exercise3.5,

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Equipment 80,000 190,000 (b) 46,000 (c) 30,000 e 3,000 000 Accounts Receivable Accounts Payable Wade Wilson, Capital Telephone Expense 10,000 g) () 80,000 Supplies 46,000 (a) 190,000 Fees Income d 3,000 (e) [f) 10,000 Wade Wilson, Droving Salaries Expense 11,000 5,000