Prepare an income statement and a statement of stockholders equity for the two-month period ending October 31, 2019, and a balance sheet as of October 31, 2019.

Kate's Cards - General Journal Page) Credit Date Debit 1 10,000 10,000 2 3 50 Account Title SEPTEMBER ENTRIES Cash Common Stock Designed brochure Consultant Expense Cash Equipment Cash Supplies Inventory Accounts Payable Designed first 5 cards 50 4 4,800 5 350 350 6 7 8 1,500 1,500 9 5,000 5,000 10 1,750 1,750 11 1,850 1,850 12 Supplies Inventory Accounts Payable Cash Sales Revenue Cost of Goods Sold Supplies Inventory Accounts Payable Cash Prepaid Insurance Insurance Expense Cash Depreciation Expense Accumulated Depreciation - Equipment Wage Expense Cash Rent Expense Cash 1,100 100 1,200 13 100 100 14 1,000 1,000 15 1,200 1,200 OCTOBER ENTRIES 1 2 450 450 3 3,500 3,500 4 250 250 5 500 500 6 200 200 7 100 100 8 1,000 hired assistant for 10$/hr Cash Teaching Revenue Cash Sales Revenue Utility Expense Cash Cash Unearned revenue Wage Expense Cash Wage Expense Cash Supplies Inventory Cash Cost of Goods Sold Supplies Inventory Depreciation Expense Accumulated Depreciation - Equipment Insurance Expense Prepaid Insurance Wage Expense Cash Rent Expense Cash Utility Expense Utility Payable Dividend Expense Cash 1,000 9 800 800 10 100 100 100 100 11 1,000 1,000 12 1,200 1,200 13 85 85 14 100 100 8,500 450 8,950 8,035 2,550 335 OCTOBER CLOSING ENTRIES Oct. 31 Sales Revenue Teaching Revenue Retained Earnings Oct. 31 Retained Earnings Cost of Goods Sold Utility Expense Insurance Expense Depreciation Expense Wage Expense Rent Expense Consultant Expense Oct. 31 Dividend Retained Earnings 200 200 2,300 2,400 50 100 100 Kate's Cards Income Statement For Two Months Ended October 31, 2019 Revenue: 8,500 450 8,950 50 200 Sales Revenue Teaching Revenue Total Revenue Expenses: Consultant Expense Insurance Expense Depreciation Expense - Equipment Wages Expense Utilities Expense Rent Expense Cost of Good Sold Total Expenses Net income 200 2,300 335 2,400 2,550 8,035 915 Common Stock Total Kate's Cards Statement of Stockholders' Equity For Two Months Ended October 31, 2019 Retained Earnings Balance, October 1, 2019 Add: Capital contributed during the year Net income for the period Less: Dividends paid Balance, October 31, 2019 Kate's Cards Balance Sheet October 31, 2019 Assets Liabilities Total Liabilities Equipment Stockholders' Equity Less: Accumulated depreciation Total Equity Total Liabilities and Stockholders' Equity Total Assets