Question: Jay Pembroke started a business in April. Prepare a Statement of Owner's Equity using the following balances for April transactions. Cash............................................$12,950 Accounts Receivable......................2,000 Office Supplies...............................4,600

Jay Pembroke started a business in April. Prepare a Statement of Owner's Equity using the following balances for April transactions.

Cash............................................$12,950

Accounts Receivable......................2,000

Office Supplies...............................4,600

Prepaid Insurance...........................1,200

Accounts Payable............................$300

Jay Pembroke, Capital..................18,000

Jay Pembroke, Drawing....................100

Service Fees...................................3,300

Rent Expense....................................750

You will need to calculate the net income for April.

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