Manageral Accounting

Based on Cameron H. Inc.'s year of operations ending Dec 31, 2020 prepare three separate financial statements: 1. Income Statement (7 Marks) 2. Statement of Changes in Owner's Equity (5 Marks) 3. Balance Sheet (9 Marks) Ensure you include proper titles, dates, categories and subcategories. Cameron H. Inc. Chart of Accounts Debit Credit Cash S 90,000 Accounts receivable 57,000 Inventory 34,000 Prepaid insurance 12,000 Equipment 80,000 Accumulated depreciation, equipment 20,000 Land 250,000 Wages payable 20,000 Property taxes payable 9,000 Interest payable 7,500 Unearned Revenue 15,000 Long-term notes payable 250,000 Cameron H, capital (Jan 1st, 2020) 100,000 Cameron H, withdrawals 40,000 Cameron H Investments 75,000 PC Sales 294,000 Wages expense 90,000 Utilities expense 15,000 Insurance expense 10,000 Depreciation expense, equipment 10,000 Interest expense 7,500 COGS 95,000 Totals 790,500 790,500 4. (4 Marks) How is Cameron H. Inc. performing? What other information might you need to provide a better analysis