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

1. Prepare Income Statement dated 31st March, 2022 & Balance Sheet dated

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

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