LO3 Integration of Financial Statements h Total iabilbies andP2. The following three independent sets of financial statements have several amounts owner's equity 54,600missing Set A $1,100 Set C 240 Set B $ (g) Net income Statement of Owner's Equity Beginning balance Net income Less withdrawals Unding balance Balance Sheet Total assets Total labilities Owners capital Total iabilities and owners equity 340 1,600 $1,600 REQUIRED 1 Complete each set of financial statements by determining that correspond to the letters 2, ACCOUNTING CONNECTION prior to the balance sheet? Why is it necessary to prepare the income statement