Yellow Ltd is a newly established interior design consulting company. Given the following information, prepare an income statement for Yellow Ltd for the month of May 2021. (a) The two owners contributed 35,000 in cash each. (b) Yellow Ltd had received a payment of $5000 for work to be performed in June. (c) A one-year bank loan of $100,000 at 6% per annum was obtained from the bank on 1 May, with principle and interest to be repaid at the end of the loan. (d) Consulting service of $ 65,000 were provided during the month but only $45,000 had been collected from customers by month end. (e) Other expenses of $1500 were paid $100 worth of other expenses had been used but Yellow Ltd will not pay this until the account falls due in June 2021. Required: Prepare an income statement for May 2021. Include all the elements of an income statement but please do not spend time on formatting