Miss Odette opened a souvenir store called "The Souverinette" on November 1, 2021. She uses the perpetual inventory system. The following were the transactions during the period:

November 1: Provided 50,000 cash as initial investment to the business.

Acquired equipment for 36,000 cash.

The equipment has a useful life of 4 years.

Paid a one-year insurance premium of 12,000. (Use asset method.)

November 12: Purchased inventory costing 15,000 for cash.

November 14: Sold goods for 15,000 cash. The cost of sales is 2,000.

December 1: Sold goods with sales price of 12,000 in exchange for a 12,000, 10%, one-year note receivable. Principal and interest are due at maturity. The cost of sales is 1,500.

December 5: Purchased inventory for 2,000 on account.

December 26: Sold goods for 17,000 on account. The cost of sales is 3,000.

December 27: Paid 1,000 account payable.

December 29: Collected 10,000 account receivable.

Additional information:

The following information was identified on December 31, 2021:

a) Of the total accounts receivable, 1,000 is doubtful of collection.

b) Salaries earned by employees during the period but were not yet paid amounted to 10,000.

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>>>Tutors please: 1. Prepare the balance sheet and income statement of The Souvenirette as of and for the two months ended December 31, 2021, respectively. Note: The two statements should be prepared based on the post-closing trial balance. 2. Prepare a statement of changes in owners' equity.

Will mark as helpful if done correctly thank you so much!