Question: The following financial statements were prepared at the end of the month of May: TOPS IN TOPIARY - INCOME STATEMENT FOR the month of

The following financial statements were prepared at the end of the month

The following financial statements were prepared at the end of the month of May: TOPS IN TOPIARY - INCOME STATEMENT FOR the month of May Revenue Expenses: Rent Expense dvemslng Expense ages Expense Net Income 50 20 S2,54 Sl.200 Sl,340 TOPS IN TOPIARY - STATEMENT OF OWNER'S EQUITY FOR the month of MAY wner's Equl at Ma 1 $0 plus: Investment plus: Nel Income less: Wlthdrawals 2.000 1,340 wner's Equlty at May 3 $3,340 TOPS IN TOPIARY - BALANCE SHEET AS OF MAY 31 IA81LITES AND OWNER'S EQUI SETS Current Assets Cash ccounts Recelvabl Prepald Rent Prepald Advertlslng upplles Equlpment otal Assets Current Llabllltles: $1,380 3.500 $ 500 $ 500 $ 100 $ 360 $4,340 ccounts Payable dvemslng Payable dvances from Customers wner's Equl otal Llabllltles & OE $300 $500 $200 $3,98 $3,340 $4,3

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