Refer to the transactions in E3€“ 8 (including the example), and prepare a statement of earnings for Peter€™s Bowling Inc. for the month of October 2014. Use an income tax rate of 40 percent.

In exercise

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Statement of Financial Position Statement of Earnings Shareholders Equity Net Transaction AssetsLiabilities Revenues Expenses Earnings (a) Peter's collected $13,000 from customers for games played in October +13.000 +13,000 +13,000 +13,000 (b) Peter's sold $7000 in bowling equipment inventory; received $3,000 in cash and the rest on (c) Peters received $2,500 from customers on account (d) The bowling leagues gave Peter's a deposit of (e) Peter's paid $1,900 for the September electricity account; cost of sales is $4,200 who purchased merchandise in September $2,600 for the upcoming fall season. bill and reeived the October bill for $2,200 to be paid in November, (f) Peter's paid $4,700 to employees for work in (g) Peter's purchased $1,800 in insurance for (h) Peter's paid $1.400 to plumbers for repairing a October coverage from October 1 to December 31. broken pipe in the washrooms.