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An analysis of the transactions made by Cookie Mountain Legal, a law firm, for the month of July is shown below. Each increase and decrease
An analysis of the transactions made by Cookie Mountain Legal, a law firm, for the month of July is shown below. Each increase and decrease in stockholders' equity is explained. Assets = Liab + Stockholders' Equity Retained Earnings Cash + Accounts Receivable + Supplies + Equipment = Accounts Payable + Com Stock + Rev. Exp - 1. +$15,000 +$15,000 2. -2,000 +$5,000 +$3,000 3. -750 +$750 4. +2,500 +$6,600 +$9,100 5. -1,500 - 1,500 6. -2,500 7. -750 -$750 8. +550 -550 9. -4,500 -$4,500 10. +500 -500 Prepare an income statement for the month ending July 31, 2022. COOKIE MOUNTAIN LEGAL Income Statement $ $ $
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