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Question #2 (34 marks): Use the information below to create a formal INCOME STATEMENT and then a REPORT FORM BALANCE SHEET - These are the

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Question #2 (34 marks): Use the information below to create a formal INCOME STATEMENT and then a REPORT FORM BALANCE SHEET - These are the account balances for "Fjord National Park" as of and/or the month ended June 30th: Cash $5,000 Bank Loan Payable $10,000 Accounts Payable - M. Moon $2,000 Land $250,000 Accounts Receivable - J. Star $10,000 Salaries Expense $10,000 Mortgage Payable $50,000 F. Fjord, Capital June 1st $184,000 Equipment $25,000 Advertising Expense $3,500 Utilities Expense $5,000 Tour Services Revenue $50,000 F. Fjord, Drawings $5,000 General Expense $8,500 Accounts Payable - L. Earth $10,000 Accounts Receivable - K Sun $5,000 Automobile Expense $4,000 Food and Beverage Revenue $25,000 Make your Income Statement for the month Ending June 30th, 20-- INCOME STATEMENT TEMPLATE (14 marks) + Make your Report Form Balance Sheet as of June 30th, 20-- Report Form Balance Sheet

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