Question: using the data in the picture, prepare the income statement, owner's equity statement and balance sheet. Ivanhoe's Home Renovations was started in 2008 by Jim
Ivanhoe's Home Renovations was started in 2008 by Jim Ivanhoe, Jim operates the business from an office in his home. Listed below, in alphabetical order, are the company's assets and liabilities as at December 31, 2021, and the revenues, expenses, and drawings for the year ended December 31, 2021: Accounts payable Accounts receivable Cash Equipment Insurance expense Interest expense J. Ivanhoe, drawings Notes payable $7,539 10,175 8,008 30,208 4,079 1,284 44,038 31,477 Operating expenses Prepaid insurance Salaries expense Service revenue Supplies Supplies expense Unearned revenue Vehicles $3,524 1,945 88,064 158,080 792 19.256 15,309 42,560 Jim's capital at the beginning of 2021 was $41,528. He made no investments during the year
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