Balance Sheet A partial work sheet and statement of owner's equity for Major Advising for the month ended January 31, 20-- are shown Work Sheet (Partial) For Honth Ended January 21, 20 Income Statement Balance Sheet ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT Cash 409.00 Accounts Receivable 950.00 339.00 700.00 3,500.00 220.00 1,030.00 Supplies Prepaid Insurance Office Equipment Accum. Depr.-Office Equipment Accounts Payable Wages Payable Ed Major, Capital Ed Major, Drawing Advising Fees Wages Expense Advertising Expense Rent Evnence 300.00 4,100.00 900.00 2,900.00 650.00 80.00 4nnnn Wages Payable 300.00 4,100.00 900.00 Ed Major, Capital Ed Major, Drawing Advising Fees Wages Expense 2,900.00 650.00 80.00 400.00 130.00 74.00 Advertising Expense Rent Expense Supplies Expense Phone Expense Electricity Expense Insurance Expense Gas and Oil Expense Depr. Expense-Office Equipment Miscellaneous Expense 42.00 85.00 51.00 220.00 20.00 1,752.00 2,900.00 6,798.00 5,650.00 Net Income 1,148.00 1,148.00 2,900.00 2,900.00 6,798.00 6,798.00 Major Advising Statement of Owner's Equity For Month Ended January 31, 20- Ed Major, capital, January 1, 20-- $4,100 Net income for January $1,148 Less withdrawals for January 900 Increase in capital 248 Ed Major, capital, January 31, 20-- $4,348 Prepare a balance sheet. Major Advising Balance Sheet January 31, 20-- Assets Current assets: Assets Current assets: qil Total current assets Property, plant, and equipment: Total assets Liabilities Current liabilities: Total current liabilities Owner's Equity Total liabilities and owner's equity