1. Arrange the following assets, liabilities, and equity in a table. (20 points)
2. Prepare an income statement for January (5 points)
3. Prepare a statement of changes in equity for January (5 points)
4. Prepare a balance sheet as of January 31. (8 points)

1. On January 1, Arnold Brown put $25,000 into a chequing account in the name of Brown Coffee Roasters (BCR). He also invested $12,700 of equipment that he already owned.
2. On January 2, Arnold paid $3,800 for furniture for the coffee shop.
3. On January 3, he paid $2,000 to rent a space near the CN Tower for January
4. On January 4, he installed the equipment he already owned and added new equipment bought on credit for $12,000. This amount is to be repaid in three equal payments at the end of January, February, and March.
5. On January 7, Brown Coffee Roasters opened for business. Receipts from products provided for cash in the first 9 days (ended January 15) were $1,900.
6. On January 16, Brown Coffee Roasters provided catering services on account for $625
7. On January 17, BCR received a $625 cheque for catering services previously provided.
8. On January 18, BCR paid the assistant barista (an employee) for wages of $290, and he paid himself $180 as wages for being the main barista.
9. On January 22, Arnold hired a new barista who will start on February 1. His salary will be $22 per hour and he will work for a total of 120 hours a month.
10. Cash receipts for the second half of January was $4,900.
11. On January 29, Arnold withdrew $495 cash for his personal use.
12. On January 30, the new barista was required to work for 6 hours, and was paid wages on January 31.
13. On January 31, BCR paid an installment on the entry in item d.
14. On February 5, BCR had $1,200 in cash received for coffee and pastry products for the first 5 days of February.