2. Use the following information to prepare, in good form, an
income statement, a statement of changes in equity, and a statement
of financial position for Geelin Industries Ltd. for the month
ended August 31, 2018:
...... Accounts
payable..........................................................
$ 9,375
...... Accounts
receivable......................................................
5,500
...... Bank loan
payable.........................................................
13,750
......
Cash..............................................................................
58,750
...... Common
shares............................................................
94,375
...... Dividends
declared........................................................
6,250
...... Income tax
expense......................................................
17,375
...... Insurance
expense........................................................
2,125
......
Building.............................................................................