Chapter 1, Problem P1.49BPGB

Preparing financial statements
Presented here are the accounts of Pembroke Bookkeeping Company for the year ended December 31, 2018:
Learning Objective 5
1. Net Income $97,600

Land	$10,000	Owner contribution, 2018	$29,000
Notes Payable	31,000	Accounts Payable	7,000
Property Tax Expense	3.100	Accounts Receivable	1,200
Pembroke. Withdrawals	28,000	Advertising Expense	12,000
Rent Expense	7,000	Building	147,400
Salaries Expense	64,000	Cash	2,800
Salaries Payable	800	Equipment	15,000
Service Revenue	192,000	Insurance Expense	1,700
Office Supplies	12,000	Interest Expense	6,600
Pembroke, Capital, Dec. 31, 2017	51,000

Requirements
1. Prepare Pembroke Bookkeeping Company's income statement.
2. Prepare the statement of owner's equity.
3. Prepare the balance sheet.