Based on the data below, complete a formal income statement, statement of owner's equity, and formal balance sheet: Income Statement Section of Work Sheet: Service Fees: 20,000 cr. balance Supplies Expense: 400 dr. balance Insurance Expense: 800 dr. balance Depreciation Expense: 20,000 dr. balance Wage Expense: 4000 dr. balance Rent Expense: 12,000 dr. balance Utility Expense: 10,000 dr. balance Net Loss = 27,200 Balance Sheet Section of Worksheet: Cash: 40,000 dr. balance Supplies: 2000 dr. balance Prepaid Insurance: 2000 dr. balance Equipment: 20,000 dr. balance Accumulated Depreciation: 2000 cr. balance Accounts Payable: 42,200 cr. balance Wages Payable: 4000 cr. balance Capital: 45,000 cr. balance Drawing: 2000 dr. balance