Can anyone explain to me how/what to do for this problem for the income statement? stmt of owner's equity, balance sheet, and the owner's equity.

Problem 2.4A (Algo) Preparing an income statement, a statement of owner's equity, and a balance sheet. LO 2-4, 2-5 The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton. Assets Accts. Rec. + Supp. + Equip. = 2,300 + 5,100 + 33,100 = Liab. Owner's Equity Accts. T. Cotton + Capital + Rev. 6,300 + 48,500 + Pay. Exp. + 910 910 2,300 + 5,100 + 33,100 = 6,300 + 48,500 + Cash + 14,300 + - 91e 13, 390 + + 4,910 18,300 + - 1,750 16,550 + 4,918 4,910 - 2,300 + 5,100 + 33, 100 = 48,500 + 910 6,300 + - 1,750 4,550 + 48,500 + 910 Balances, May 1 Paid for utilities New balances Sold services for cash New balances Paid a creditor New balances Sold services on credit New balances Paid salaries New balances Paid telephone bill New balances Withdrew cash for personal expenses New balances 2,300 + 5,100 + 33,100 = + 2,550 4,850 + 5,100 + 33,100 = 4,910 + 2,550 7,460 - 4,550 + 48,500 + 910 4,850 + 5,100 + 33, 100 = 4,550 + 48,500 + 7,460 16,55 + - 8,550 8,000 + - 302 7,693 + - 2, 3ee 5,393 + + 8,550 9,460 + 307 9,767 4,850 + 5,100 + 33,100 = 4,550 + 7,460 48,500 + 2,300 46,200 + 4,850 + 5,100 + 33, 100 = 4,550 + 7,460 9,767 Required: Analyze each transaction carefully. Prepare an income statement and a statement of owner's equity for the month. Prepare a balance sheet for May 31, 20X1. Analyze: In order to complete the balance sheet, which amount was transferred from the statement of owner's equity? Complete this question by entering your answers in the tabs below. Income Statement Stmt of Owners Eqty Balance Sheet Analyze Prepare an income statement for the month of May 31, 20X1. (List the expenses in detail on the income statement.) COTTON CLEANING SERVICE Income Statement Month Ended May 31, 20X1 Revenue Expenses Total expenses 0