Prepare the financial statements: Classified Balance Sheet, Single-step Income Statement, and Statement of Changes in Equity.

Question 4 Kyoto Japanese Restaurant Part I. Consider the following transactions which occur in the month of January, 2018 for Kyoto Japanese Restaurant: (1) Jan 1, Caleb Young invested S55,000 in exchange for common shares of Kyoto Japanese Restaurant (KJR). (2) Jan 1, KJR paid three months office rent in advance, totaling S6,000. (3) Jan 2, KJR paid $30,000 for a vehicle. (4) Jan 2, purchased kitchen equipment for cash, $20,000. (5) Jan 3, purchased office supplies, $600, and kitchen equipment, $3,500, on account. (6) Jan 5, paid $1,500 of the amount owed for the kitchen equipment (Transaction #5) (7) Jan 15, provided catering service and billed the customer $12,000. (8) Jan 15, paid the chefs salary for the first two weeks of the month, $1,000. (9) Jan 20, collected the $6,000 from the customer (Transaction #7) (10) Jan 31, paid a S200 dividend to Caleb as the sole shareholder. (11) Jan 31, paid the monthly telephone bill, $70. (12) Jan 31, paid for gas and oil used in the vehicle, $250