On November 1, 2021, the account balances of Hamm Equipment Repair were as follows.

Journalize transactions and follow through accounting cycle to adjusting entries and preparation of financial statements.

		Debit				Credit
Cash		$ 2,400		Accumulated DepreciationEquipment		$ 2,000
Accounts Receivable		4,250		Accounts Payable		2,600
Supplies		1,800		Unearned Revenue		1,200
Equipment		12,000		Salaries Payable		700
				J. Hamm, Capital		13,950
		$20,450				$20,450

During November, the following summary transactions were completed.

Nov. 8		Paid $1,700 for salaries due employees, of which $700 is for October salaries.
10		Received $3,620 cash from customers on account.
12		Received $3,100 cash for services performed in November.
15		Purchased equipment on account, $2,000.
17		Purchased supplies on account, $700.
20		Paid creditors on account, $2,700.
22		Paid November rent of $400.
22		Paid salaries of $1,700.
27		Performed services on account and billed customers for these services, $2,200.
29		Received $600 from customers for future service.

Adjustment data consist of:

1. Supplies on hand, $1,400
2. Accrued salaries payable, $350
3. Depreciation for the month is $200
4. Services related to unearned revenue of $1,220 were performed during the month Prepare an income statement and a statement of owner's equity for the year ended May 31, and a balance sheet as at May 31, 2021.