Preparing Financial Statements You will be preparing the Financial Statement for Bolero Auto Repair Shop. Remember the order in which financial statements must be prepared and remember to use good form. Bolero Auto Repair Shop has just completed operations for the year ended December 31, 2020. This is the third year of operations for the company. The following data have been assembled for the business: Insurance Expense Service Revenue Utilities Expense Rent Expense Bolero, Capital, Jan. 1, 2020 Cash Owner contribution $ 4,500 Salaries Expense 70,000 Accounts Payable 1,400 Office Supplies 16,000 Bolero, Withdrawals 9,000 Accounts Receivable 7,200 Equipment 5,100 $ 50,500 17,600 1,700 4,800 8,000 12,100 1. Using the excel worksheet provided, prepare the income statement for Bolero Auto Repair Shop for the year ended December 2020. Remember, there is a piece of information that is needed to prepare the next financial statement, Statement of Owner's Equity. 2. Continue using the excel worksheet provided, prepare the statement of owner's equity statement for Bolero Auto Repair Shop for the year ended December 2020. Remember, there is a piece of information that is needed to prepare the next financial statement, Balance Sheet. 3. Also using the excel worksheet provided, prepare the balance sheet for Bolero Auto Repair Shop for the year ended December 2020. Remember, the date is different for the balance sheet than the income statement and statement of owner's equity