Question: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first month ended May 31, 2014, and

Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first month ended May 31, 2014, and a balance sheet at May 31, 2014.

Analysis Component: Prepare two different journal entries, including explanations, that might have created the May 31, 2014, balance in Utilities Expense of $1,400. Use May 31, 2014, as the date for your entries.

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