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Question 7 These financial statement items are for Rugen Company at year-end, July 31, 2016. Salaries and wages payable $2,980 Notes payable (long-term) $3,000 Salaries and wages expense 45,700 Cash 5,200 Utilities expense 21,100 Accounts receivable 9,780 Equipment 38,000 Accumulated depreciation 6,000 Accounts payable 4,100 Owner's Drawings 4,000 Service revenue 57,200 Depreciation expense 4,000 Rent revenue 6,500 Owner's capital (beginning of the year) 48,000 Prepare an income statement for the year. RUGEN COMPANY Income Statement For the Year Ended July 31, 2016 Revenues Service Revenue 57200 Rent Revenue 6500 Total Revenues 63700 Expenses Time 04:19 / Remaining 25 min PRINTER PERSON 1BAE NET Rent Revenue Total Revenues 63700 Expenses 45700 Salaries and Wages Expense Depreciation Exponse Vibes Expense 4000 Not Income /(L08) 7100 Prepare a ownery easily statement for the yew (se tems that decrease retorted earnings tirse.) RUDIN COMPANY Owl Equity Statement For the More Ended. 2016 Owner's Capital.ly 31, 2016 48000 LLL Liabilities and Owner's Equity Current Labilities Accounts Payable 53108 Balanes and Wages Payable 2980 Total Current Liabilities 2080 Long-term Liabilities Notes Ravable ROCA Total abilities Owner's Equity Total Labilities and owner's Equity 16 Click if you would like to show Work for the