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Prepare an statement of income, a statement of changes in equity, and a statement of financial position for Norman Rae Ltd., a service business, from
Prepare an statement of income, a statement of changes in equity, and a statement of financial position for Norman Rae Ltd., a service business, from the items listed below for the month of October, 2022: Accounts ..... payable....... $10,000 Accounts receivable.. 14,000 Cash. 10,000 Common shares.... 28,000 ..... Dividends paid....... 6,000 ...... Income tax expense... 4,500 Equipment.. 30,000 .... Supplies...... 2,800 Supplies expense.... 3,500 Rent expense.... 3,000 Retained earnings, October ...... 1... 15,000 Salaries expense.... 7,000 ...... Service revenue..... 28,500 Utilities expense...... 700 You are to complete the questions above on appropriate separate document(s). Acceptable formats include: word document, excel documents, documents written by hand (scanned and uploaded as a pdf or jpeg file), or any template you have access to that fulfils the question requirements. You will then upload this or 'drag and drop' the file(s) into the upload box at the bottom of this question box
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