Using the complete Worksheet, income statement, statement of owners equity, and balance sheet; Journalize and post adjusting and closing entries. (Be sure to put beginning balances in the ledger first.)

Millis Lumber Worksheet For the Year Ended December 31, 202X Requirement b. Prepare the income statement, statement of owner's equity, and balance sheet. Begin with the income statement. Review the worksheet you prepared above. Millis Lumber Income Statement For the Year Ended December 31, 202X Revenue: Net Sales \begin{tabular}{|r|} \hline 22900 \\ \hline 14360 \\ \hline \end{tabular} Operating Expenses: Depreciation Expense, Lumber Equipment Lumber Supplies Expense 100 Total Operating Expenses Net Income (Loss) Prepare the statement of owner's equity. Review the worksheet you prepared above. Prepare the balance sheet. Prepare the Assets section of the statement in this step, and then the Liabilities and Owner's Equity sections in the following step. Review the worksheet you prepared above