1 1 Critical Thinking Problem 2.1 (Algo) Financial Statements LO 2-3, 2-4 10 Doints The following account balances are for Ping Chung, Certified Public Accountant, as of April 30, 20X1. Cash Accounts receivable Maintenance expense Advertising expense Fees earned Ping Chung Capital, April 1 Salaries expense Machinery Accounts payable Ping Chung, withdrawals for April $120,000 48,000 21,400 17,960 125,200 Book Ask 59,500 91,500 52,800 31,700 Print Required: Determine the balance for Ping Chung, Capital, April 1, 20X1. Prepare an income statement and a statement of owner's equity for ti month ended April 30, 20X1, and a balance sheet for April 30, 20X1 References Complete this question by entering your answers in the tabs below. Ping Cung Capital Income Statement Stmt of Owners Eaty Balance Sheet Analyze Prepare an income statement for the month of April 30, 20X1. PING CHUNG, CERTIFIED PUBLIC ACCOUNTANT Income Statement Month Ended April 30, 20X1 Revenue Expenses 1 $120,000 48.000 21.409 12,868 125,00 10 points Cach Accounts receivable Maintenance expense Advertising expense Fees earned Ping Chung, Capital, April 1 Salaries expense Machinery Accounts payable Ding Chung, withdrawals for April 59,500 91.500 52,800 31,00 Back Ask Required: Determine the balance for Ping Chung, Capital, Apni 1.20x1. Prepare an income statement and a statement of owner's equity for the month ended April 30, 20X1, and a balance sheet for April 30, 20X1 Print Complete this question by entering your answers in the tabs below. References Ping CA110 Capital Income Statement Stmt of Owners Eaty Balance Sheet Analyze Prepare an income statement for the month of April 30 201 PING CHUNG, CERTIFIED PUBLIC ACCOUNTANT Income Statement Month Ended Adil 30, 20X1 Revenge |Expensos Total expenses 5 0