Prepare an income statement, an owner’s equity statement, and a balance sheet for the dental practice of Carl Craft, DDS, from the items listed below for the month of September.Carl Craft, Capital, September 1 $40,000Accounts payable 7,000Equipment 30,000Service revenue 24,000Carl Craft, Drawings 5,000Dental supplies expense 3,500Cash 6,000Utilities expense 700Dental supplies 2,800Salaries expense 7,000Accounts receivable 14,000Rent expense 2,000
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