Extracted text: Prepare Income statement, owner's Equity and Balance sheet for Freeman Co. for the year ended on Jun 30", 2017 (Note the balance sheet does not balance) Cash 23,000 Insurance expense 168,000 Prepaid insurance 25,300 Interest expense 20,500 Depreciation expenses - showroom 6,000 4,000 Accumulated depreciation -Showroom 18,000 35,000 Building 12,600 Sales 14,700 Account receivable 15,500 Account payable Fright Out Sales commission 70,000 Rent expense Rent revenue 21,800 Showroom 48,000 10,500 Sales discount 9,000 Sales retum 150,000 Retain earning 20,000 Office supplies 15,000 Office supplies expense 5,400 Unearned rent 7,000 Owner's investment 40,000 Owner's drawing Merchandise inventory on Jun 30 2017 22,000 5,600 Cost of merchandise sold 85,600 Bank loan (Final payment due in 2025) 20,000 Land 30,000