Using the following data for Zenith Travel Service as well as the statement of owner’s equity shown in Practice Exercise 1-5B, prepare a report form balance sheet as of August 31, 20Y4:

Data from Practice Exercise 1-5B,

Using the income statement for Zenith Travel Service shown in Practice Exercise 1-4B, prepare a statement of owner’s equity for the year ended August 31, 20Y4. Megan Cox, the owner, invested an additional $43,200 in the business during the year and withdrew cash of $21,600 for personal use. Megan Cox, capital as of September 1, 20Y3, was $456,000.

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Accounts payable $ 53,500 Accounts receivable 90,600 Cash 54,500 Land 372,000 Supplies 5,600