Oriole Company, a ski tuning and repair shop, opened on November 1, 2021. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2022.

		Cash Receipts		Cash Payments
Issuance of common shares		$20,000
Payment to purchase repair shop equipment				$9,220
Rent payments to landlord				1,295
Newspaper advertising payment				340
Utility bill payments				815
Part-time helpers wage payments				2,150
Income tax payment				10,500
Cash receipts from ski and snowboard repair services		30,100
Subtotals		50,100		24,320
Cash balance				25,780
Totals		$50,100		$50,100

The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The part-time helper is owed $490 at April 30, 2022, for unpaid wages. At April 30, 2022, customers owe Oriole Company $475 for services they have received but have not yet paid for.

Prepare an accrual-basis income statement for the 6 months ended April 30, 2022. ORIOLE COMPANY Income Statement Prepare the April 30, 2022, classified balance sheet. (List Current Assets in order of liquidity.) ORIOLE COMPANY Balance Sheet Assets Liabilities and Stockholders' Equity