Judy Johansen operates an interior design business, Johansen Designs. Listed below, in alphabetical Paid $3,800 of the accounts payable. order, are the company's assets and liabilities as at December 31, 2017, and the revenue, expenses, and drawings for the year ended December 31, 2017:

Judy's capital at the beginning of 2017 was $35,800. She made no investments during the year.
Instructions
Prepare an income statement, statement of owner's equity, and balance sheet.
TAKING IT FURTHER
Why is the balance sheet prepared after the statement of owner's equity?

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Accounts payable Accounts receivable Prepaid insurance $ 600 Salaries expense Service revenue ment 5 350 Telephone expense Interest expense J. Johansen, drawings Notes payable revenue Utilities expense