On May 1, 2007, the amount of Mary Beth's capital in Beth鈥檚 Services Company was $101,000. During May, she wi

1. On May 1, 2007, the amount of Mary Beth's capital in Beth鈥檚 Services Company was $101,000. During May, she withdrew $15,100 from the business. The amounts of the various assets, liabilities, revenues, and expenses are as follows:

Accounts payable $ 8,900
Accounts receivable 25,950
Cash 11,390
Fees earned 70,800
Insurance expense 1,475
Land 74,400
Miscellaneous expense 1,510
Prepaid insurance 2,000
Rent expense 8,000
Salary expense 35,300
Supplies 950
Supplies expense 825
Utilities expense 3,800

Present, in good form, (a) an income statement for May, (b) a statement of owner's equity for May, and (c) a balance sheet as of May 31.

a)
Beth's Services Company
Income Statement
for the month ending May 31, 2007

Fees earned $70,800
less expenses:
insurance exp $1,475
misc. exp 1,510
rent exp 8,000
salary exp 35,300
supplies exp 825
utilities exp 3,800
total expenses $50,910
Net Income $19,890


b & c)
Beth's Services Company
Balance Sheet
As of May 31, 2008

Current Assets:
Cash ---16,180
Accounts ---receivable 25,950
prep ins ---2,000
supplies ---950

Fixed Asset:
land ---74,400
total assets ---$114,690

Liabilities:
accounts payable---$8,900
b)
Owner's Equity:
Mary Beth's capital --$101,000
net income 19,890
drawing (15,100) --4790---105790
Liabilities and owner's equity---$114,690

-not really sure if these are correct.