On August 1, 2013, Bee Clean entered its second year of operations, providing housekeeping services to the elderly and disabled as well as doing small household repairs. On July 31, 2014, Bee Cummins, the owner, finalized the company's records, which showed the following items.

Required
Prepare an income statement and statement of changes in equity for the year ended July 31, 2014, and balance sheet at July 31, 2014, similar to Exhibits 1.8, 1.9, and 1.10.
Analysis Component: Analyze the balance sheet and calculate what percentage of the assets at July 31, 2014, were financed by (a) debt and (b) equity.

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Accounts payable. 42,000 Prepaid rent S 9,400 Office equipment 4,000 14,000 2,500 131,000 2,400 13,200 Supplies expense.15,900 9,800 68,000 July 31, 2013. Bee Cummins, withdrawals....4 79,300 Repair revenue 46,000 Service revenue. 5,600 Supplies Furniture... Interest expense.... Notes payabl 2,100 Utilities expense ,000 Wages expense...