c) Going-concern Principle If a company uses current market value to report the value of its assets on the balance sheet, the company would be violating wh d) Business Entity Principle V Raintree is a sole proprietorship owned by Avery Wilson, who purchased a computer for personal use and recorded it as an asse principle has Avery Wilson violated? e) Going-concern Principle A business is assumed to continue to operate into the foreseeable future Question 3 [35 points] On January 1, 2014, Carrie Ford organized a new company called Benson Inc On the last day of that month, the company's records showed the items listed below income statement and statement of changes in equity as well as the balance sheet at January 31 for Benson Inc Account Balance a) Complete the income statement using the format provided Accounts payable 183,000 Accounts receivable. 89,000 Income Statement Building 130,500 January 2014 Consulting revenue earned 104.500 Revenues Dividends 22,500 X 4 Furniture 84,000 Total revenues Insurance expense 14,000 Expenses Interest payable 72,500 X Land 51,500 Total expenses Rent eamed 57,500 Rent expense 115,500 Share capital 89,500 b) Complete the statement of changes in equity using the format provided (select one) Statement of Changes in Equity select one