Question: On August 1, 2013, Bee Clean entered its second year of operations, providing housekeeping services to the elderly and disabled as well as doing small

On August 1, 2013, Bee Clean entered its second year of operations, providing housekeeping services to the elderly and disabled as well as doing small household repairs. On July 31, 2014, Bee Cummins, the owner, finalized the company's records, which showed the following items.

Required
Prepare an income statement and statement of changes in equity for the year ended July 31, 2014, and balance sheet at July 31, 2014, similar to Exhibits 1.8, 1.9, and 1.10.
Analysis Component: Analyze the balance sheet and calculate what percentage of the assets at July 31, 2014, were financed by (a) debt and (b) equity.

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BEECLEAN Income Statement For Year Ended July 31 2014 Revenues Service revenue 131000 Repair revenue ... View full answer

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