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Preparation and Integration of Financial Statements E8B. Mizkan Company had the following accounts and balances during 2014: Service Revenue, S26,400; Rent Expense, $2,400; Wages Expense, S16,680; Advertising Expense, $2,700; Utilities Expense, $1,800; and Withdrawals, $1,400. In addition, the year-end balances of selected accounts were as follows: Cash, $3,100; Accounts Receivable, $1,500; Supplies, $200; Land, S2,000; Accounts Payable, $900; Investment by Owner, $2,480; and beginning capital balance of $2,000. LO3 All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Prepare Mizkan's income statement, statement of owner's equity, and balance sheet (assume the year ends on December 31, 2014). (Hint: You must first solve for the net income and ending balances of owner's equity for 2014.)
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