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From the following information, please prepare an Income Statement, Statement

 From the following information, please prepare an Income Statement, Statement of Owner’s Equity, and Balance Sheet for the month of May of the current year.

Cash

$12,000

Accounts Receivable

16,000

Supplies

350

Equipment

16,500

Notes Payable

$13,000

Accounts Payable

12,000

S. Jones, Capital

18,000

S. Jones, Drawing

550

Service Revenue

6,000

Telephone Expense

350

Rent Expense

1,100

Advertising Expense

2,150

$49,000

$49,000

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