Integration of Financial Statements P2. The following three independent sets of financial statements have several amounts missing: Income Statement Set A Set B Set C Revenues Expenses Net income $1,100 $ (g) $ 240 (a) 5,200 (m) $ (b) $ (h) $ 80 Statement of Owner's Equity Beginning balance Net income Less withdrawals Ending balance Balance Sheet Total assets $2,900 $24,400 $ 340 (c) 1,600 200 (i) $3,000 $ (i) $ (p) $ (d) $31,000 $ (9) Total liabilities $1,600 $ 5,000 (r) Owner's capital (e) (k) 380 Total liabilities and owner's equity $ (f) $ (1) $ 380 REQUIRED 1. Complete each set of financial statements by determining the missing amounts that correspond to the letters. 2. ACCOUNTING CONNECTION prior to the balance sheet? Why is it necessary to prepare the income statement