From the trial balance of Grace Lantz, Barrister and Solicitor, of Winnipeg, prepare a. An income statement

Question:

From the trial balance of Grace Lantz, Barrister and Solicitor, of Winnipeg, prepare
a. An income statement for the month of May.
b. A statement of owner€™s equity for the month ended May 31.
c. A as of May 31, 2014.
GRACE LANTZ, Barrister and Solicitor
TRIAL BALANCE
MAY 31, 2014

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...