Question: (Learning Objective 4: Preparing an income statement and a statement of changes in equity) This exercise should be used with Exercise 1-33B. Requirements 1

(Learning Objective 4: Preparing an income statement and a statement of changes in equity) This exercise should be used with Exercise 1-33B.

❙ Requirements 1 Prepare the income statement of Eliza Bennet Banking Company, for the year ended May 31, 20X6.

2 What amount of dividends did Eliza Bennet declare during the year ended May 31, 20X6? Hint: Prepare a statement of changes in equity.

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