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Assets Cash Prepaid rent Office Furniture Computer Equipment Total Assets $35,000 10,000 10,000 5,000 $60,000 Peal Company Balance Sheet As of Dec 31, 2021 Liabilities and Equity Notes Payable -6- Owner's equity. Owner's capital -5- Total Liabilities -4- & Equity et Sales cost of pods sold Gross profit Operating expenses Selling expenses General and administrative expense 5 Total operating expenses Income from operations Other expenses Interest expense Net Income 4500 Peal Company Income Statement For the year ended 2021 9500 -2- 2.800 Peal Company. $20,000 -1- 10,500 7.300 3,200 1,200 $2.000 Peal Company Statement of Owner's equity For 2021 $4,000 Capital, Beginning balance Add Investment Net income Less Drawings Capital Ending balance 6,000 2,000 4000 8,000 200 Assets Cash Prepaid rent Office Furniture Computer Equipment Total Assets $35,000 10,000 10,000 5,000 $60,000 Peal Company Balance Sheet As of Dec 31, 2021 Liabilities and Equity Notes Payable -6- Owner's equity. Owner's capital -5- Total Liabilities -4- & Equity