Preapare INCOME STATEMENT Prepare STATEMENT OF OWNERS EQUITY Prepare BALANCE SHEET Using the data below Preparing financial

Preapare INCOME STATEMENT

Prepare STATEMENT OF OWNERS EQUITY

Prepare BALANCE SHEET

Using the data below

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Preparing financial reports from the trial balance (40 min) P2-4A. From the trial balance of Grace Lantz, Barrister and Solicitor, of Winnipeg, pre- pare (a) an income statement for the month of May, (b) a statement of owner's equity for the month ended May 31, and (c) a balance sheet as of May 31, 2022. Check Figure Total Assets $6,400 GRACE LANTZ, Barrister and Solicitor TRIAL BALANCE MAY 31, 2022 Dr. Cr. Cash $500000 Accounts Receivable 65000 Office Equipment Accounts Payable Salaries Payable 75000 $430000 67500 G. Lantz, Capital 127500 G. Lantz, Withdrawals 30000 Revenue from Legal Fees 235000 Utilities Expense 30000 Rent Expense 45000 Salaries Expense Totals 115000 $860000 $860000 Preparing financial reports from the trial balance (40 min) P2-4A. From the trial balance of Grace Lantz, Barrister and Solicitor, of Winnipeg, pre- pare (a) an income statement for the month of May, (b) a statement of owner's equity for the month ended May 31, and (c) a balance sheet as of May 31, 2022. Check Figure Total Assets $6,400 GRACE LANTZ, Barrister and Solicitor TRIAL BALANCE MAY 31, 2022 Dr. Cr. Cash $500000 Accounts Receivable 65000 Office Equipment Accounts Payable Salaries Payable 75000 $430000 67500 G. Lantz, Capital 127500 G. Lantz, Withdrawals 30000 Revenue from Legal Fees 235000 Utilities Expense 30000 Rent Expense 45000 Salaries Expense Totals 115000 $860000 $860000