QUESTION 3: (4%) - (10 Points) One month transactions of ABC Company show the following balances. 1- Prepare Income statement for the period ending December, 2019. 2- Prepare the Owner's Equity Statement Sale A $21,000 Sale B $30,000 Sale C $50,000 Rent Expense $10,000 Insurance Expense $6,000 Salary Expense $40,000 Cash $30,200 Accounts receivable $2,200 Office supplies Expenses $1,000 I Office equipment $36,000 Other Income $70,000 Fuel Expenses $700 Advertising Expenses $4,000 Accounts Payable $4,000 Capital $20,300 Withdrawal $8,000 I Element of Competency: 1- Produce accounting reports