Financial Statements include: (a) An income statement shows the results of operations of a business for a period of time. It includes revenue and expense accounts and reports either a net income or a net loss. (b) A stotement of owner's equity shows the activity in the owner's equity, or Capital account, for a period of time. It indudes the balance in the Capital account at the beginning of the period plus any additional investments and any increase or decrease in capital as the result of a net income (or a net loss) minus any withdrawals: (c) A balance sheet shows the financial condition of a business at o particular date in time. It summarizes the balances of the asset, liability, and owner's equity accounts on a given date. Using the above account balences, prepare an Income Statement for Pat Martin's Music Entertainment as of May 31, 20