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Using these ledger accounts, prepare a: 1. Income Statement [8] 2. Statement of Owner's Equity [6] 3. Balance Sheet [12] [26 Points] Cash $7,000

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Using these ledger accounts, prepare a: 1. Income Statement [8] 2. Statement of Owner's Equity [6] 3. Balance Sheet [12] [26 Points] Cash $7,000 Toy Revenue $3,000 Game Unearned Accumulative Sales Revenue Revenue Amortization Discount $5,000 $1,500 $700 1,000 Purchase Operating COGS Merchandise Accounts Vehicle Returns Expenses $2,000 Inventory Receivable $8,000 $500 $800 $1,400 $2,000 Notes Accounts Salary Owners IBO WBO Payable Payable Payable Capital $1,000 $200 $3,000 $500 $200 $8,000

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