Floating Speed Boat has completed all of its journal entries and adjusting entries for the month of February 2019. The adjusted trial balance is shown below. Note: during the month of February, the owner of Floating Speed Boat invested $8,330 into the business.
Required
Prepare the income statement, statement of owner's equity, and balance sheet.
Income Statement: Floating Speed Boat Income Statement For the month Ended Feb 2019 Revenues: Service Revenue $ 5,380 (Less) Expenses: Advertising Expense ($ 380) Depreciation Expense ($ 460) Insurance Expense ($ 450) Interest Expense ($ 430) Rent Expense ($ 1,450) Net income $ 2,210 Statement of Owner's equity: Floating Speed Boat Statement of Owner's equity For the month Ended Feb 2019 Murry, Capital Beginning [$47,740 - $8,300] $ 39,410 Add: Net income $ 2,210        ... See the full answer