Yankee Hotel Foxtrot initiated operations on July 1, 2022. To manage the company officers and managers have requested monthly financial statements starting July 31, 2022. The adjusted trial balance amounts at July 31 are shown below. 
(a) Determine the net income for the month of July.
(b) Determine the total assets and total liabilities at July 31, 2022 for Yankee Hotel Foxtrot.
(c) Determine the amount that appears for Owner's Capital at July 31, 2022.
Definitions:
Allergic Responses
The immune system’s hypersensitive reactions to normally harmless substances, such as pollen or food.
Edema
Swelling caused by excess fluid trapped in the body's tissues.
Tissue Fluid
Also known as interstitial fluid, it is the fluid that surrounds the cells in tissues, providing them with nutrients and a means to remove waste.
Plasma Proteins
Proteins found in blood plasma that play roles in clotting, transport, and immune response.
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