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From the information given below, prepare a November income statement, a November
statement of owners equity, and a November 30 balance sheet. On November 1 of the
current year, Victoria Garza began Garza Dcor with an initial investment of $50,000 cash. On
November 30, her records showed the following (alphabetically arranged) items and amounts.
| Accounts payable. | $12,000 | Office furnishings.. | $47,000 |
| Accounts receivable. | 27,700 | Owners withdrawals. | 16,000 |
| Cash | 22,300 | Rent expense | 12,500 |
| Fees earned. | 67,000 | Salaries expense. | 6,500 |
| Notes payable | 4,250 | Telephone expense. | 1,250 |
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