P1-3 Following are the asset, liability, and equity balances of Dumont Inc. at January 31, 2011, after its first month of operations. LIABILITIES EQUITY ASSETS Share Capital $2,000 $8,000 $1,300 Bank Loan Cash Service Revenue 7,500 2,400 550 Accounts 1,000 Accounts Advertising Expense 500 Receivable Payable Prepaid Expenses Unused Supplies 720 750 Commissions Expense Insurance Expense Interest Expense 9,000 50 Truck 80 400 Rent Expense Supplies Expense Telephone Expense Wages Expense 100 150 2,500 Required Prepare an interim income statement and statement of changes in equity for the month ending January 31, 2011. Record the expenses in alphabetical order. Assume no share capital was issued during the month. 2. Prepare an interim balance sheet at January 31. 1