EX 1-18 Statement of owner's equity OBJ.5 Financial information related to Pegasus Products Company, a proprietorship, for the month ended April 30, 20Y7, is as follows: Net income for April $161,000 Brian Walinsky's withdrawals during April 24,000 Brian Walinsky's capital, April 1, 2017 373,000 a. Prepare a statement of owner's equity for the month ended April 30, 2017. b. Why is the statement of owner's equity prepared before the April 30, 2017, balance sheet? EX 1-19 Income statement OBJ.5 Hermes Services was organized on August 1, 20Y2. A summary of the revenue and expense transactions for August follows: Fees earned $627,600 Wages expense 440,800 Rent expense 28,100 Supplies expense 6,800 Miscellaneous expense 9,300 Prepare an income statement for the month ended August 31. Ex 1-18 Pegasus Product Company Statement of Owner's Equity For the Month Ended April 30, 2017 Ex 1-19 Hermes Services Income Statement For the Month Ended August 31, 20Y2 Revenues: Expenses: Total Expenses Net Income Page 5 of 11 864 words BE English (United States