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Following are the accounts maintained by OLX corporation. You need to prepare the income statement and the statement of owner's equity for the month ended

Following are the accounts maintained by OLX corporation. You need to prepare the income statement and the statement of owner's equity for the month ended December 31, 2020. (10 marks) Cash $10,000 Accounts Receivable $200,000 Service Revenue $150,000 Rent Expense 18,000 Insurance Expense 12000 Drawings 11000 Office Supplies 2000 Salaries expense 10,000 Salaries Payable 5000 Owner's equity, December 1,2020 $60,000 Interest Expense 15,000

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