please explain

Saug Chauh Question 2 [30 points) onces Adam Uppe started Global Fiter Corp. on November 1, 2014 The adjusted trial balance shown below has been prepared for Global Fiter Corp as of November 30, 2014. Use this information to prepare the income statement and statement of changes in equity for the month ended November 30 along with the November 30 balance sheet Global Fiter Corp Adjusted Tral Balance Gotal Fier Corp Income Statement November 30, 2014 Fone Morth Ended November 30, 2014 Debit Creat XConssions d Accumulated depreciation, boats 8 7,500 12,000 Accumulated depreciation, equipment Insurance expense Rent earned Boats 104,500 Property taxes expense Commissions earned 110.000 841 **** Depreciation expense boats 7.500 Depreciation expense, eaupment 12.000 Dividends 26.000 Equipment 94,000 Interest earned 18,500 Interest receivable 18000 12.000 Mortgage payable Prepad rent, 45 000 56.000 *** Property taxes expense Property taxes payable 50,000 **** Rent earned 101,000 Rent expense 122,000 54,000 Share capital Uneamed rent 41,000 Total 495,000 490.000 Question 3 (15 points] mi 10,000 18500 101,000 (select one) Statement of Changes in Eguty (select one) (select one) Balance Sheet (select one) Share Retained Total Capital Earnings Equity