Victor started a consulting business. During the first month of operations, the following transactions took place: Nov 1. Invested $25,000 cash in the business 2. Hired an administrative assistant and signed a contract for $2,500 a month 2. Paid for monthly rent in the amount of $1,500 4. Purchased office supplies on account for $7,000 from Elridge Company 7. Performed consulting services of $16,500 on account 12. Received cash in advance from Seaside Company in the amount of $8,000 20. Received $5,500 cash for consulting services from Ronald Erickson 30. Paid his administrative assistant $2,500 for the month of November 30. Paid $4,500 to Elridge Company for supplies purchased on account on Nov 4 Victor has the following chart of accounts: No 101 Cash; No 111 Accounts Receivable; No 127 Office Supplies; No 201 Accounts Payable; No 207 Unearned Revenue; No 302 Victor, Capital; No 400 Service Revenue; No 717 Rent Expense; No 720 Salaries Expense

1.Prepare an income statement for the month ended November 30