On July 31, 2020, the account balances of ABC Co. for the month are listed below. The capital of the owner was Rial 25,000 on July 1, 2020, the beginning of the month. The company was able to generate Rial 31,200 in Net Income for the month of July.

Account Name	Balance OMR
Accounts Payable	3,400
Accounts Receivable	34,500
Cash	32,600
Sales Revenues	xxx
Auto Expense	16,000
Personal loan	3,000
Miscellaneous	4,800
Beginning	25,000
Miscellaneous	4800
Supplies	2,500
Rent	33,000
Dividends	15,000
Salary	55,000
Supplies	4,500

Requirements:

1. Using the above information, prepare the income statement for ABC Inc, for the month ended July 31,2020.

Prepare a statement of Equity for the or the month ended July 31,2020.

Prepare a statement of balance sheet for the or the month ended July 31,2020.

 

Account Name Balance OMR Accounts Payable 3,400 Accounts Receivable 34,500 Cash 32,600 Sales Revenues |XXX Auto Expense 16,000 Personal loan 3,000 Miscellaneous 4,800 expense Beginning Equity 25,000 Miscellaneous 4800 expense Supplies 2,500 Rent Expense 33,000 Dividends 15,000 Salary expense 55,000 Supplies expense 4,500