Using the following partial Excel work sheet for Breakout Maze Co., prepare the Income Statement, the Statement of Changes in Equity, and an unclassified Balance Sheet for the company. Assume the owner did not make any investments in the business during the year.

Breakout Maze Co.

Work Sheet

For Year Ended June 30, 2020

Account

Income Statement

Statement of Changes in Equity and Balance Sheet

Dr.

Cr.

Dr.

Cr.

Cash

11,265

Accounts receivable

1,500

Office supplies

1,300

Prepaid insurance

4,400

Building

120,000

Accumulated depreciation, Building

24,000

Notes payable

3,000

Salaries payable

3,160

M. Tomas, capital

65,355

M, Tomas, withdrawals

5,000

Motel rental revenue

55,000

Depreciation expense, Building

3,000

Salaries expense

1,200

Insurance expense

500

Rent expense

1,400

Office supplies expense

300

Repairs expense

400

Telephone expense

250

Totals

7,050 55,000

143,465 95,515

Profit

47,950

47,950

Totals

55,000 55,000

143,465 143,465

Breakout Maze Co.

Income Statement

For Year Ended June 30, 2020

Breakout Maze Co.

Statement of Changes in Equity

For Year Ended June 30, 2020

Breakout Maze Co.

Balance Sheet

June 30, 2020

Assets

Liabilities and OE

Total Assets

Total Liabilities and Equity