Required:

Based on the unadjusted trial balance of HairPro, Inc. above, you are required to prepare/write the following:

1) An income statement

2) A statement of retained earnings

3) Balance Sheet

4) A paragraph stating your evaluation of the companys performance and financial status for the quarter ending March 31, 2023.

In your evaluation, state whether:

• the business is profitable;
• it can pay its current obligations/liabilities; and
• its assets are financed more by debts or equity.

Support your discussion with relevant calculations or ratios.

Thanks in advance! I just want to compare my work to answers done by an expert.

HairPro, Inc. opens its first hair salon in Calgary in January 2023. It prepares quarterly financial statements for its owners and external stakeholders. Below is the unadjusted trial balance of HairPro at the end of its first quarter of operation ending on March 31, 2023