Harold Cooper started Global Filter Corp. last year. For the first few months of the company's life (through April) the accounting records were maintained by an outside bookkeeping service. According to those records, the share capital balance was $110,500 as of April 30. To save on expenses Harold decided to keep the records himself. He managed to record May's transactions properly, but was a bit rusty when the time came to prepare the financial statements. His first versions of the balance sheet and income statement follow. Global Fier Corp Income Statement For Month Ended May 31, 2054 52.000 110.500 36,500 32.000 Revenue Issuance of shares Consulting Revenue Earned Property Taxes Payable Interest Eamed Total revenues Expenses Retained Eamings Interest Expense Supplies Total expenses Net loss 231.000 159.000 31.500 3.500 254.000 53.000 Assets Land Insurance Expense Notes Receivable Short-Term Notes Payable Global Fier Corp Balance Sheet May 31, 2014 262.500 Unearned Revenue 22.500 Rere Earned 273.500 Interest Payable 57.000 Total abilities 38.000 74.000 14.000 125.000 Equity Share Capital Total abilities and equity 489 500 615.500 Total assets 615,500 Using the information contained in the original financial statements, prepare revised statements, including a statement of changes in equity, for the month of May. Global Corp Income Statement select onel sance of shares Issuance of shares Global Corp Statement of Changes in Equity electora) Share Retained To Capital Earings Equity Using the information contained in the original financial statements, prepare revise statements, including a statement of changes in equity, for the month of May. Global Filter Corp. Income Statement (select one) Issuance of shares Issuance of shares Global Filter Corp Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity X X X Global Filter Corp. Balance Sheet (select one) x