Atlantic Cruise Co. is owned by Irina Temelkova. The following information is an alphabetical listing of financial statement accounts for the company for the year ended May 31, 2024:

Instructions
Prepare an income statement and a statement of owner’s equity for the year.

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Accounts payable Accounts receivable Advertising expense Building Cash Equipment I. Temelkova, capital, June 1, 2023 I. Temelkova, drawings Insurance expense $ 47,750 42,950 3,640 122,570 20,080 553,300 311,182 33,950 2,566 Interest expense Investments by owner Maintenance expense Notes payable Other expenses Prepaid insurance Revenue Salaries expense Supplies $ 20,960 5,847 82,870 379,000 66,500 1,283 350,640 126,950 16,800