Section B: Preparing Financial Statements Question 1 Following are the asset, liability, and equity items of Dumont Inc, at January 31,2015 , after its first month of operations. \begin{tabular}{lr} \multicolumn{2}{c}{ LIABII.ITIES } \\ \hline Bank t.aas & 58,000 \\ \hline Aceounts Payable & 1,000 \\ \hline \end{tabular} Required 1. Prepare an uscome statement and statement of changes in equity for Dumoat's first month ended January 31, 2015. 2. Prepare a balance sheet at January 31,2015