Eastern Lighting prepares financial statements on a monthly basis. The adjusted trial balance for Eastern Lighting on 30 November 20X2 (the end of its monthly accounting period) is as follows: ACCOUNT DEBIT CREDIT Cash $7 042 Accounts receivable 4 394 Office supplies 1 074 Prepaid insurance 1 240 GST receivable 300 Land 6 000 Building 29 400 Accumulated depreciation: building 130 Office equipment 2 880 Accumulated depreciation: office equipment 40 Accounts payable 1 580 Mortgage payable 10 000 A Swiss, capital 40 000 A Swiss, drawings 800 Interior decorating revenues 3 105 Salaries expense 850 Insurance expense 140 Telephone expense 177 Utilities expense 276 Office supplies expense 112 Depreciation expense: building 130 Depreciation expense: office equipment 40 TOTALS 54 855 54 855

Required:

a. Prepare the 30 November 20X2 income statement

b. Prepare the statement of changes in owners equity

c. Prepare the balance sheet as at 30 November 20X2 for Eastern Lighting.