Austin Enterprises was started by Daniel Austin. During the current year, Daniel Austin invested $8,000 in the business. Based on the following end of year spreadsheet: Austin Enterprises End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 26,500 26,500 Accounts Receivable 7,000 7,000 Supplies 1,000 1,000 18,500 18,500 Equipment Accumulated Depr.-Equip. 5,000 5,000 Accounts Payable 11,000 11,000 Wages Payable 1,000 1,000 8,000 8,000 2,000 2,000 59,500 59,500 Daniel Austin, Capital Daniel Austin, Drawing Fees Earned Wages Expense Rent Expense Depreciation Expense 19,000 7,000 19,000 7,000 3,500 3,500 84,500 84,500 29,500 59,500 55,000 25,000 Net income 30,000 30,000 59,500 59,500 55,000 55,000 Prepare an income statement for the year ended December 31. Austin Enterprises Income Statement For the Year Ended December 31 Expenses: Total expenses Prepare the statement of owner's equity for the year ended December 31. Austin Enterprises Statement of Owner's Equity For the Year Ended December 31 Prepare the balance sheet for Austin Enterprises for the year ended December 31. Austin Enterprises Balance Sheet December 31 Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant and equipment Total assets Liabilities Current liabilities: Total liabilities Owner's Equity Total liabilities and owner's equity