The amounts of the assets and Liabilities of St Simon Travel Service are listed as of June 30, 2012, the end

The amounts of the assets and Liabilities of St Simon Travel Service are listed as of June 30, 2012, the end of the current year, and its revenues and expenses for the year are listed below. The capital of Gwen Perez, owner, was

$ 150,000 at July 1, 2011, the beginning of the current year, and the owner withdrew  $ 30,000 during the current year.

Account payable            $ 25,000                 Supplies                $ 12,000

Accounts receivable       $ 90000                  Supllies expense    $ 10,000   

Cash                            $ 123000                Taxes expenses         8,000

Fees earned                 $ 500,000                Utilites expenses    $ 36,000

Miscellaneous expenses     $ 11,000            Wages expenses    $ 280,000

Rent expense                     $ 75,000

Required:

1.      1.  Prepare an income statement for the current year ended June 30, 2012

2.      2.  Prepare a statement of owner’s equity for  the current year ended june 30, 2012.

3.      3.   Prepare a balance sheet as of June 30, 2012

4.      4.   What item appears on both the income statement and statement of owner’s equity?