T. Edison owns her own business and had the following activity during September. She earned $2,600 from royalties on inventions. She consumed resources as follows: $525 for rent, $300 for clerical salaries, $124 for legal services, $100 for office supplies, $90 for utilities, $70 for fuel, and $200 for insurance.

Required

A. Prepare a report in good form, following the example of Exhibit 6, to describe Edison’s financial activities for September.

B. How might this information be useful for Edison?

C. Identify some decisions Edison might make using this information.