Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 20,000 Accumulated depreciation-Buildings $ 24,000
Prepaid insurance 3,400 Accounts receivable 5,800
Interest expense 680 Utilities expense 2,200
Accounts payable 6,000 Interest payable 460
Wages payable 1,300 Unearned revenue 1,250
Cash 28,000 Supplies expense 380
Wages expense 8,400 Buildings 130,000
Insurance expense 2,700 Stark, Withdrawals 7,500
Stark, Capital 78,800 Depreciation expense-Buildings 6,500
Services revenue 65,000 Supplies 1,250
Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, and (3) balance sheet at December 31. The Stark, Capital account balance was $78,800 on December 31 of the prior year.