An analysis of the transactions made by Ivanhoe & Co. a certified public accounting firm, for the month of August is shown below. The expenses were $550 for rent. $4.400 for salaries and wages, and $700 for utilities Accounts + Receivable Suppliest Equipment Accounts Payable Owner's Capital $14,100 Owner's Drawings Reveni 1 $4,000 $2,200 $650 $4.800 Cash $14,100 -1.800 -650 3.900 -1.300 -1.000 -550 400 -4.400 58.7 2 3. 4. 5. 6. 7 8 9. 10 - 1.300 -$1,000 -400 700 Assume that August is the company's first month of business, Owner's An analysis of the transactions made by Ivanhoe & Co a certified public accounting firm, for the month of August is shown below. The expenses were $550 for rent, 54,400 for salaries and wages, and 5700 for utilities Accounts Accounts Owner's Receivable Supplies - Equipment Payable Capital Drawings Revenues - Expenses $14.100 $4.000 $2.200 $650 $4,800 $8.700 -1.300 -$1.000 -$550 -400 -4.400 700 -700 Assume that August is the company's first month of business Prepare an income statement for August 31, 2020. IVANHOE & CO. Income Statement