From the trial balance of Gail Lucas, Attorney-at-Law (below) prepare a. An income statement for the month of May b. A statement of owners equity for the month ended May 31, and c. A balance sheet at May 31, 201X. Gail Lucas, Attorney-At-Law Trial Balance May 31, 201X Debits Credits A. Cash 6,000.00 B. Accounts Receivable 750.00 C. Office Equipment 1,250.00 D. Accounts Payable 6,200.00 E. Sales Payable 770.00 F. G. Lucas, Capital 1,180.00 G. G. Lucas, Withdrawals 800.00 H. Revenue from Legal Fees 1,800.00 I. Utilities Expense 150.00 J. Rent Expense 500.00 K. Salaries Expense 500.00 Totals 9,950.00 9,950.00

74 CHAPTER 2 Debits and Credits: Analyzing and Recording Business Transactions LO4 (40 MIN) PT/QBI 2B-4. From the trial balance of Gail Lucas, Attorney-at-Law (Figure 2.9, pre pare (a) an income statement for the month of May, (b) a statement of owner's equity for the month ended May 31, and (c) a balance sheet at May 31, 201X. FIGURE 2.9 GAIL LUCAS, ATTORNEY-AT-LAW TRIAL BALANCE MAY 31, 201X Debit 600 000 7 5000 1 2 50 00 Check Figure: Total Assets $8,000 Cash Accounts Receivable Office Equipment Accounts Payable Salaries Payable G. Lucas, Capital G. Lucas, Withdrawals Revenue from Legal Fees Utilities Expense Rent Expense Salaries Expense Totals 80 000 180,000 1 50 00 50 000 50 000 925000 TI 995000