10. Use the following partial work sheet from Matthews Lanes to prepare the income statement (15 points), statement of owner's equity (5 points) and balance sheet (15 points) (including Headings). The owner did not make any investments in the business this year. (Total of 35 points) (Chap. 4) MATTHEWS LANES Work Sheet For Year Ended June 30 Balance Sheet and Statement of Owner's Equity Account Income Statement Cr. 11,275 1,750 800 3,400 130,000 21,700 200 50,000 46,425 137,675 Cash.. Accounts Receivable....... Office Supplies............... Prepaid Insurance..... Scoring Equipment......... Accumulated depreciation- Scoring equipment Salaries payable ........... M. Matthews, Capital........ M. Matthews, Withdrawals.... Bowling revenue Depreciation expense Scoring equipment Salaries expense ....................... Insurance expense ......... Rent expense......... Office supplies expense..... Repairs expense...... Telephone expense. Totals............... . Net income.............. Totals. 10,825 1,800 200 1,600 400 350 750 15,925 137,675 121.750 137.675 137,675 193,650 71,900 121.750 193.650 193,650