Instructions Prepare an income statement and statement of owner's equity for July and a balance sheet at July 31. E1.15 (L0 6) AP Atlantic Cruise Co. is owned by Irina Temelkova. The following information is an alphabetical listing of nancial statement items for the a. company for the year ended May 31, 2021: Prepare income statement and statement of owner's equity. Accounts payable Accounts receivable Advertising expense Building Cash Equipment 1. Temelkova, capital, June 1, 2020 I Ternelkova, drawings Insurance expense $ 47,750 42,950 3,640 122,570 20,080 553300 311,182 33950 2,566 Interest expense Investments by owner Maintenance expense Notes payable Other expenses Prepaid insurance Revenue Salaries expense Supplies $ 20,960 5,847 82,870 379,000 66,500 L283 350540 126,950 16,800