Use the information in QS 2-12 to prepare a June statement of owner’s equity for Lawson Consulting. The owner’s capital account balance at June 1 was $0, and the owner invested $10,000 cash in the company on June 2.

Data from QS 2-12

Liu Zhang operates Lawson Consulting, which began operations on June 1. On June 30, the company’s records show the following selected accounts and amounts for the month of June. Prepare a June income statement for the business.

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Rent expense L. Zhang, Withdrawals Cash $2,000 6,000 $5,000 4,500 3,500 $ 1,500 12,000 6,500 Wages expense Accounts receivable Service revenue Accounts payable.. Equipment..