EXERCISE 1-22 Balance sheets, net income Financial information related to the proprietorship of Derby Interiors for October and November 2006 is as follows: Objective 8 November 30, 2006 October 31, 2006 Accounts payable $12,320 27,200 $13,280 Accounts receivable 31,300 Mary Lou Reily, capital 7 SPREADSHEET Cash 48,000 81,600 b.$36,340 Supplies 2,400 2,000 a. Prepare balance sheets for Derby Interiors as of October 31 and as of November 30, 2006 b. Determine the amount of net income for November, assuming that the made no additional investments or withdrawals during the month. c. Determine the amount of net income for November, assuming that the owner made no additional investments but withdrew $10,000 during the month. ner