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2. Use the following accounts and information to prepare, in good form, an income statement, statement of owner's equity, and balance sheet for Talbot Industries

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2. Use the following accounts and information to prepare, in good form, an income statement, statement of owner's equity, and balance sheet for Talbot Industries for the month ended July 31, 2017. (45%) Accounts Payable Accounts Receivable Buildings Cash Commissions Earned Andreas Talbot, Capital, July 1, 2017 $ 3,100 1,400 22,000 15,600 22,700 Andreas Talbot, Withdrawals Insurance Expense Land Notes Payable Rent Expense Salaries Expense Supplies $ 8,000 2,200 45,000 3,300 2,400 10,000 400 77,900

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