Question

Please assist with income statement and balance sheet.

April Transactions
Date	Transaction Description
April 1	Started a landscaping business by making a $50,000 deposit in a company bank account, in exchange for 5,000 shares of $10 par value common stock.
April 1	Purchased insurance for the year and paid $3,600 cash.
April 1	Paid monthly rental of $2,500 cash on a warehouse to store the landscaping equipment.
April 3	Purchased landscaping equipment from Toro for $15,000, paying a downpayment of $10,000 cash, and $5,000 on account.
April 5	Purchased landscaping supplies of $750 on account.
i	Paid $500 cash for advertising in local newspapers.
April 10	Received $12,500 in cash for landscaping services provided.
April 12	Paid $2,000 on account for landscaping equipment previously purchased on April 3rd.
April 15	Provided landscaping services on account for $1,200.
April 20	Received $10,500 in cash for landscaping services provided.
April 28	Received $600 cash on account for landscaping services performed on April 15th.
April 30	Received $4,000 cash for landscaping services provided.
April 30	Paid a utility bill of $700 cash.
April 30	Paid dividends of $3,000 cash
April 30	The inventory of landscaping supplies showed a balance of $300 on hand at the end of the month.

Answer 1

Trial Balance
For the month ended April 30
Particulars	$	$
Cash	55,300
Common Stock		50,000
Prepaid Insurance	3,300
Rent Expenses	2,500
Lanscaping Equipment	15,000
Accounts Payable		3,750
Landscaping supplies	300
Advertising Expenses	500
Landscaping services Revenue		28,200
Accounts Receivable	600
Utility Expenses	700
Dividends	3,000
Insurance Expenses	300
Lansdscaping Supplies Expenses	450
	81,950	81,950

Income Statement
For the month ended April 30
	$	$
Landscaping services Revenue		28,200
Less: Expenses
Rent Expenses	2,500
Utility Expenses	700
Dividends	3,000
Insurance Expenses	300
Lansdscaping Supplies Expenses	450
Advertising Expenses	500
Total Expenses		7,450
Net Income		20,750

Balance Sheet
As on April 30
	$	$
ASSETS
Lanscaping Equipment	15,000
Cash	55,300
Prepaid Insurance	3,300
Landscaping supplies	300
Accounts Receivable	600
Total Assets		74,500
Equity and Liabilities
Equity
Common Stock	50,000
Retained Earnings	20,750
Total Equity		70,750
Liabilities
Accounts Payable	3,750
Total Equity and Liabilities		74,500