Help Me SOLVE IT Problem 1-5B Financial statements LO6 CHECK FIGURES: Profit = $39,700; Ending capital = $65,000 On January 1, 2019, Dog Obedience Training Co entered its second year of operations. This year the business expanded to include doggy daycare because many customers requested the service. On December 31, 2020, the owner Tim Oram finalized the company's records, which showed the following items. $ 6,000 Accounts payable. Accounts receivable $ 11,400 62,000 24,000 Cash 7,600 Prepaid rent Rent expense Doggy daycare revenue. Obedience training revenue Supplies 46,500 Dog kennel equipment. 21,200 121,000 Tim Oram, capital, December 31, 2019' 81,300 4,400 Tim Oram, withdrawals 56,000 17,900 Vehicle 15,200 Supplies expense. Utilities expense. Wages expense 11,800 Interest expense 4,100 70,000 Notes payable. 40,000 *Hint: The ending capital balance for one period is the beginning capital balance for the next period. There were no owner investments during the year ended December 31, 2020. Required Prepare an income statement and statement of changes in equity for the year ended December 31, 2020, and balance sheet at December 31, 2020, similar to Exhibits 1.8, 1.9, and 1.10. Analysis Component: Analyze the balance sheet and calculate what percentage of the assets at December 31, 2020, were financed by (a) debt and (b) equity