Problem 3-02A a-d (Part Level Submission) Prepare an owners equity statement for the month of May.

Problem 3-02A a-d (Part Level Submission) Pharoah's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. PHAROAH'S HOTEL Trial Balance May 31, 2020 Credit Account Number 101 126 130 140 Debit $ 3,400 2,050 2,400 12,000 60,800 14,400 149 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 275 301 $ 4,900 3,300 40,000 41,400 10,300 726 600 3,400 850 $99,900 $99,900 In addition to those accounts listed on the trial balance, the chart of accounts for Pharoah's Hotel also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2020. 2. A count of supplies shows $800 of unused supplies on May 31. 3. Annual depreciation is $3,648 on the buildings and $1,440 on equipment. 4. The mortgage at an annual interest rate is 6%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries of $700 are accrued and unpaid at May 31. Prepare an income statement for the month of May. PHAROAH'S HOTEL Income Statement For the Month Ended May 31, 2020 T Revenues Rent Revenue 12,500 Expenses Advertising Expense 600 Depreciation Expense 424 T Supplies Expense T 1,250 Interest Expense - 200| Insurance Expense T 200 | Salaries and Wages Expense 4,100 Utilities Expense 850 1 Total Expenses 7,624 T Net Income / (Loss) s 482 4,876 (d2) Prepare an owner's equity statement for the month of May. PHAROAH'S HOTEL Owner's Equity Statement For the Month Ended May 31, 2020 Owner's Capital, May 1 Add : Investment Net Income / (Loss) - 4,876 Owner's Capital, May 31