An analysis of the transactions made by Dewey Cheatem & Co. a law firm for the month of July is shown below. Each increase and decrease in owner's equity is explained. 
Instructions
(a) Prepare an income statement for the month ending July 31 2016.
(b) Prepare an owner's equity statement for the month ending July 31 2016.
Definitions:
Bipolar Disorder
A mental health condition characterized by extreme mood swings that include emotional highs (mania or hypomania) and lows (depression).
Generalized Anxiety
A psychological disorder characterized by excessive, uncontrollable, and often irrational worry about everyday things, significantly surpassing normal anxiety levels.
Generalized Anxiety Disorder
A mental health disorder characterized by persistent and excessive worry about various aspects of daily life.
Major Depressive Disorder
A mental disorder characterized by a persistent and intense feeling of sadness or despair.
Q7: Net income for the period is determined
Q8: What are the two basic properties of
Q14: How is the strength of an association
Q17: Which of the following is an example
Q45: All of the financial statements are for
Q66: The present value of $10000 to be
Q142: The Constantine Company had the following
Q148: Indicate whether the following items would appear
Q157: At the beginning of the year Shaolin
Q202: A T-account is<br>A) a way of depicting