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Question 1 (15 marks) On January 1, Year 5, Morris Bell invested $30,000 in Bell Consulting. During the year, Morris withdrew $17,000 for personal use. On December 31, Year 5, Bell Consulting reported the following amounts: Accounts Receivable $9,000 Accounts Payable 4,200 Service Revenue 25, 550 Land 4,000 Rent Expense 4,500 Note Payable 3,800 Supplies 900 Morris Bell, Capital, January 1, Year 5, 0 Salary Expense 9,650 Cash 18,500 Morris Bell, Withdrawals 17,000 Required A. Prepare an income statement for the year ended December 31, Year 5. Use the format as illustrated in the Demonstration Problem at the end of Chapter 1. B. Prepare a balance sheet dated December 31, Year 5, for Bell Consulting. Use the format as illustrated in the Demonstration Problem at the end of Chapter 1.