64. 
    

    Account Title	Debit ($) (Oct)	Credit ($) (Oct)	Debit ($) (Nov)	Credit ($) (Nov)
    Cash	135,000		140,000
    Accounts Receivable	155,000		160,000
    Inventory	165,000		170,000
    Prepaid Expenses	50,000		55,000
    Equipment	350,000		360,000
    Accumulated Depreciation		105,000		110,000
    Accounts Payable		130,000		135,000
    Notes Payable		75,000		70,000
    Common Stock		240,000		250,000
    Retained Earnings		190,000		200,000
    Sales Revenue		500,000		520,000
    Cost of Goods Sold	195,000		200,000
    Rent Expense	58,000		60,000
    Utilities Expense	14,000		15,000
    Salary Expense	115,000		120,000
    -------------------------	----------------------	----------------------	----------------------	----------------------
    Total	1,040,000	1,040,000	1,080,000	1,080,000

    Requirements:

    • Prepare a comparative income statement for October and November.
    • Create a comparative balance sheet as of the end of October and November.
    • Calculate the change in retained earnings between October and November.
    • Analyze the financial performance and changes in financial position over the two months.