Below are the financial accounts of Metro Labs. The company has just completed its third...

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Accounting

Below are the financial accounts of Metro Labs. The company has just completed its third year
of operations ended November 30,2011.
Accounts Payable $ 7,400
Accounts Receivable 51,900
Cash 115,750
Design Service Revenue 300,000
Marketing Expense 19,700
Office Rent Expense 50,000
Owners Capital, November 30,2010(beginning of the period)70,400
Salaries Expense 96,000
Salaries Payable 2,700
Supplies 800
Supplies Expense 6,350
Withdrawals 40,000
Required
1. Prepare the income statement, statement of owners equity, and balance sheet for Metro Labs.
There were no investments by the owner during the year

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