B Susan Huang began the practice of law on October 1, 2023, with an initial Investment of $21,200 in cash. She made no withdrawals during the month. After completing the first month of practice, the financial statements were prepared by Ryan Player, the secretary/bookkeeper Ms. Huang had hired. Ms. Huang almost burst out laughing when she saw them. She had completed a course in legal accounting in law school and knew the statements prepared by Player left much to be desired. Consequently, she asked you to revise the statements. The Player version is presented as follows: Assets Susan Huang, Lawyer Balance Sheet October 31, 2023) Liabilities and Equity $1,050 Susan Huang, capital $21,200 Cash Furniture 7,050 Supplies expense 570 Accounts payable 1,740 Rent expense Supplies 2,750 1,040 $21,200 Susan Huang, Lawyer Income Statement For Month Ended October 31, 2023 Revenues: Legal revenue $18,900 Accounts receivable 5,858 $24,750 Expenses: Salaries expense $ 5,100 Telephone expense Law library 585 10,845 16,530 Profit $8,220 Required: Prepare the corrected financial statements for Susan Huang. $21,200 3 Prepare the corrected financial statements for Susan Huang. SUSAN HUANG, LAWYER Income Statement For Month Ended October 31, 2023 15 points Revenues Print Total revenues Operating Expenses Total operating expenses C 3 SUSAN HUANG, LAWYER Statement of Changes in Equity For Month Ended October 31, 2023 Susan Huang, capital, October 1, 2023 Dints Print Total Susan Huang capital, October 31, 2023 Assets $ 0 SUSAN HUANG, LAWYER Balance Sheet October 31, 2023 Liabilities: Equity Saved < Prev 3 of 5 Next >