Question: 1. Prepare Income Statement dated 31st March, 2022 & Balance Sheet dated 31 March, 2022 by using the following accounts. Please make sure you properly

1. Prepare Income Statement dated 31st March, 2022 & Balance Sheet dated 31 March, 2022 by using the following accounts. Please make sure you properly follow the classification shown in the class. (5+5=10) Account Amount in CAD Account Amount in CAD Cash 2000 Salary 4000 Car Insurance 450 Car 9000 Rent 1200 Utility Expense 50 Phone 700 Transportation 200 Expense Credit Card Debt 300 Child Benefit 300 Car Loan 6500 Wifi Bill 50 Entertainment Expense 100 Borrowed from friends 200 for 6 months

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