Prepare an income statement and statement of owner's equity  (month ended Mar,31 1995)
Auto remair fee earned            37,300
Salaries Expense                    11500
Repair parts Expense              7400
Paint Expense                        6300
Insurance Expense                 4700
Utilities Expense                    1570

Required:
Prepare an income statement for the month ended Mar 31 1995.

Assume that on Mar, 1, 1995, company had a balance of 6250 in his capital amount and that on Mar 10 he invested another 1500. Further more on Mar 23, 500 were withdrew from business. Prepare an income statement of Owner's Equity.