Prepare an income statement, a statement of changes in equity,
and a statement of financial position for Norman Rae Ltd., a
service business, from the items listed below for the month of
October, 2018:
...... Accounts
payable.............................................................................
$10,000
...... Accounts
receivable.........................................................................
14,000
......
Cash.................................................................................................
10,000
...... Common
shares...............................................................................
28,000
...... Dividends
paid..................................................................................
6,000
...... Income tax
expense.........................................................................
4,500
......
Equipment........................................................................................
30,000
......
Supplies............................................................................................
2,800er.
...... Supplies
expense.............................................................................
3,500
...... Rent
expense......................................................................................