Using the information in QS 1-19, prepare an income statement and statement of changes in equity for

Question:

Using the information in QS 1-19, prepare an income statement and statement of changes in equity for the month ended May 31, 2014, and a balance sheet at May 31, 2014.

In QS 1-19

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...