Question 2 [35 points] On June 1, 2014, Judith Grimm organized a new company called X-cell Inc. On the last day of that month, the company's records showed the items listed below. Use this information to prepare the June income statement and statement of changes in equity as well as the balance sheet at June 30 for X-cell Inc. Account Balance a) Complete the income statement using the format provided. Accounts payable 21,000 (select one) Building 160,500 Cash 77,000 Income Statement (select one) Consulting revenue earned 177,500 Revenues Dividends 24,500 Furniture 115,000 Total revenues Insurance expense 11,500 Expenses Interest earned 60,500 Interest expense 28,500 Interest payable 23,000 Office salaries expense 113,000 Property taxes payable. 39,000 Rent earned 150,500 Rent expense 100,000 118,500 Share capital Short-term notes payable 118,000 Total expenses b) Complete the statement of changes in equity using the format provided. (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity 78,000 Supplies XX 44