Using your answer from Exercise 1-21, prepare an income statement, statement of changes in equity, and balance sheet for March 2014.
In exercise 1-21

a. Pete Kequahtooway invested $4,300 cash and $15,000 of equipment into his business.
b. Purchased various supplies on account; $1,600.
c. Bought supplies on credit; $950.
d. Pete signed a $4,000 contract to do yard work beginning in May.
e. Did work for a client on account; $550.
f. Performed services for a customer on credit; $600.
g. Paid $200 for the supplies purchased in (c).
h. aid $250 for advertising in the local newspaper.
i. Collected the amount owed from the customer in (f).
Using the format provided below, show the effects of the activities listed in (a) through (i). For each transaction that affects equity, include a brief description beside it (owner investment, owner withdrawal, revenue, expense).
Analysis Component: Review Pete's income statement. Does the net income of $900 represent $900 of cash? Explain.

Assets Liabilities Equity Accounts Accounts Pete Kequahtooway, Explanation of Cash Receivableupplies+EquipmentPayable +Capital Equity Transaction