Prepare an income statement for the month ending July 31,2020.

Prepare an owner's equity statement for the month ending July 31,2020.

Question 27 View Policies Current Attempt in Progress An analysis of the transactions made by Dewey, Cheatem & Co., a law firm, for the month of July is shown below. Each increase and decrease in owner's equity is explained. Accounts Accounts Cash + Receivable + Supplies + Equipment - Payable + Owner's Capital 1. +$ 15,000 +$15,000 Investment 2. -2,500 +$6,000 +$3,500 3. -750 +$750 4. +2,400 +$7,600 10,000 Service Revenue 5. -1,500 -1,500 6. -2,300 -$2,300 Drawings 7. -750 Rent Expense 8. +850 -850 9. -4,500 -4,500 Salaries Expense 10. +400 -400 Utilities Expense -750 Prepare an income statement for the month ending July 31, 2020. DEWEY, CHEATEM & CO. Income Statement $ CN