Using the trial balance prepared in Part 4 of Problem 2-6B, prepare an income statement and statement of changes in equity for the month ended November 30, 2014, and a balance sheet at November 30, 2014.
In problem 2-6B
WiCom Servicing completed these transactions during November 2014, its first month of operations:
Nov. 1 Tait linger, the owner, invested $62,000 cash and office equipment that had a fair value of $19,000 in the business.
2 Prepaid $21,000 cash for three months' rent for an office.
4 Made credit purchases of used office equipment for $9,000 and office supplies for $1,650.
8 Completed work for a client and immediately received $5,200 cash.
12 Completed a $4,800 project for a client, who will pay within 30 days.
13 Paid the account payable created on November 4.
19 Paid $3,750 cash as the annual premium on an insurance policy.
22 Received $2,000 as partial payment for the work completed on November 12.
24 Completed work for another client for $3,600 on credit.
28 Unger withdrew $5,300 from the business for personal use.
29 Purchased $1,700 of additional office supplies on credit.
30 Paid $19,000 in wages.
30 Paid $1,650 for the month's utility bill.