Question 1 (50 points] Velor Inc. began operations on February 1, 2013. Its adjusted account balances at January 31, 2014 are shown below. Use this information to prepare the following: a. Income statement for the year ended January 31, b. Statement of changes in equity for the year ended January 31. c. Classified balance sheet at January 31. DDDD 1.780 Tricom Lutenant 990 520 Accounts receivable Accumulated depreciation, equipment Accumulated depreciation furniture Advertising expense Advertising payable Bonds Payable (due April, 2017) Cash . Commissions earned Consulting revenue eamed Copyright Depreciation expense, equipment Depreciation expense, furniture Dividends Equipment Furniture Interest earned Interest expense Interest payable Interest receivable Land Long-term notes payable Long-term investment in Shares Notes Receivable (due November 2014) Rent earned Share capital Trademark Uneamed rent (600 a020 8.230 12,370 2 D80 2.080 7,740 5,500 5,990 990 520 3310 3,970 w 3,580 2,410 3,290 3,570 690 14,690 select one) Statement of Changes in Enuity (Seloct one) Share Retainod Total Capital Earnings Equity 17,970 X 10,950 12,800 10 900 17,320 7,700 3,500 (select one) 2C Mostly cloudy Type here to search Long-term investment in shares Notes Receivable (due November, 2014) Rent eamed Share capital Trademark Uneamed rent 10.950 12,880 10,900 17,320 7,700 3,500 Select one Balance Sheet (select one) X + SUBMIT AND MARK Official Time: 9:27-27 1 Type here to search hp