1. Prepare an income statement for Kohl's Home Repair for the month ended May 31, 20--. Kohl's Home Repair Income Statement For Month Ended May 31, 20-- Total expenses 2. Prepare a statement of owner's equity for Kohl's Home Repair for the month ended May 31, 20--, If an amount box does not require an entry, leave it blank or enter "0". Kohl's Home Repair Statement of Owner's Equity For Month Ended May 31, 20-- Total investment 3. Prepare a balance sheet for Kohl's Home Repair as of May 31, 20--. Kohl's Home Repair Balance Sheet May 31, 20-- Assets Liabilities Owner's Equity Total assets Total liabilities & owner's equity Instructions Financial Statements 1. Prepare an income statement for Kohl's Home Repair for the month ended May 31, 20--, 2. Prepare a statement of owner's equity for Kohl's Home Repair for the month ended May 31, 20--. If an amount box does not require an entry, leave it blank or enter "0". 3. Prepare a balance sheet for Kohl's Home Repair as of May 31, 20--, Wilhelm Kohl started a business in May 20-- called Kohl's Home Repair. Kohl hired a part-time college student as an assistant. On May 31, 20--, the ledger balances for Kohl's Home Repair were as follows: Accounts Balance Accounts Payable $ 4,174 Accounts Receivable 2,840 Cash 21,512 Equipment 8,191 Gas and Oil Expense 118 Wilhelm Kohl, Capital 25,031 Wilhelm Kohl, Drawing 2,918 Office Supplies Prepaid Insurance 172 1,103 Rent Expense 896 Service Fees 15,646 Phone Expense 234 Van 6,079 Wages Expense 788