Using the following data for Up-in-the-air Travel Service as well as the statement of owner’s equity shown in Practice Exercise 1-5A, prepare a report form balance sheet as of April 30, 20Y7:

Data from Practice Exercise 1-5A,

Using the income statement for Up-in-the-air Travel Service shown in Practice Exercise 1-4A, prepare a statement of owner’s equity for the year ended April 30, 20Y7. Jerome Foley, the owner, invested an additional $52,000 in the business during the year and withdrew cash of $34,000 for personal use. Jerome Foley, capital as of May 1, 20Y4, was $876,000.

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Accounts payable Accounts receivable $ 90,000 417,000 Cash 170,000 Land 772,000 Supplies 16,000