James Wilson is a new staff accountant for Zoie's Beauty Supply. He has asked you to review the financial statements prepared for April to find and correct any errors. Review the income statement and balance sheet that follow and identify the errors Wilson made (he did not prepare a statement of owner's equity). $38,800 ZOIE'S BEAUTY SUPPLY Income Statement April 30, 2019 Revenue Fees Income Expenses Salaries Expense $ 9,500 Rent Expense 2,500 Repair Expense 800 Utilities Expense 1,700 Drawing 4,500 Total Expenses Net Income 19,900 $23,600 ZOIE'S BEAUTY SUPPLY Balance Sheet Month Ended April 30, 2019 Liabilities $ 12,000 Accounts Receivable 40,000 15,000 Owner's Equity 5,000 Zoie Taylor, Capital, April 1, 2019 $ 56,200 Total Liabilities and Owner's Equity Assets Land Building Cash Accounts Payable Total Assets $ 7,000 49,200 $ 56,200 Required: Prepare a corrected income statement and balance sheet, as well as a statement of owner's equity, for Zoie's Beauty Supply. Required: Prepare a corrected income statement and balance sheet, as well as a statement of owner's equity, for Zoie's Beauty Supply. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Owners Eqty Balance Sheet Prepare a corrected income statement for Zoie's Beauty Supply. ZOIE'S BEAUTY SUPPLY Income Statement Month Ended April 30, 2019 Revenue Expenses Total expenses Income Statement Stmt of Owners Eat Required: Prepare a corrected income statement and balance sheet, as well as a statement of owner's equity, for Zoie's Beauty Supply. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Owners Eqty Balance Sheet Prepare a statement of owner's equity for Zoie's Beauty Supply. ZOIE'S BEAUTY SUPPLY Statement of Owner's Equity Month Ended April 30, 2019 Required: Prepare a corrected income statement and balance sheet, as well as a statement of owner's equity, for Zoie's Beauty Supply. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Owners Eqty Balance Sheet Prepare a corrected balance sheet for Zoie's Beauty Supply. ZOIE'S BEAUTY SUPPLY Balance Sheet as of April 30, 2019 Liabilities Assets Owner's Equity Total assets Total liabilities and Owner's equity