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 "O". Kohl's Home Repair Statement of Owner's Equity For Month Ended May 31, 20- Total investment $ 0 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 "O". 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 $ 4,174 Accounts Payable Accounts Receivable Cash 2,840 21,512 8,191 118 25,031 2,918 Equipment Gas and Oil Expense Wilhelm Kohl, Capital Wilhelm Kohl, Drawing Office Supplies Prepaid Insurance Rent Expense Service Fees Phone Expense Van 172 1,103 896 15,646 234 6,079 Wages Expense 788