QUESTION Jeanie Simpson is the proprietor of Glamour Cosmetics, a business that provides individual skin care treatment and consulting to clients at their residence. The business has been in operation for a few years and has been very successful so far. Jeanie requires that a complete set of financial statements be prepared for May 2022. All transactions up to and including May 31, 2022 have been recorded in the appropriate accounts. The balances of these accounts for the month ending May 31, 2022, or as at May 31, 2022 have been provided below: Account Revenue from treatments Insurance expense. Balance $ 40,000 6,000 Cosmetic supplies 3,000 Accounts payable 3,000 Jeanie Simpson, drawing 9,500 Wages expense. 17,000 Computer ..... 3,500 Revenue from consulting services 15,000 Bank loan payable 5,000 Telephone expense 2,500 Equipment ... Travel expense 11,500 8,000 Accounts receivable 2,000 Advertising expense 5,000 Jeanie Simpson, capital (see note 1) Cash......... 14,000 9,000 Note 1: The balance in the Jeanie Simpson, capital account represents a beginning capital balance of $4,000 on May 1, 2022 and the remaining portion of this balance pertains to a $10,000 contribution of cash that Jeanie invested into the business during May, 2022. REQUIRED: (to be completed using the working papers provided) Prepare (in good form), the following Financial Statements for May 2022: (a) Income Statement (b) Statement of Owner's Equity (c) Balance Sheet