Piel Corporation (A U

question 10

Essay

Piel Corporation (a U.S. company) began operations on January 1, 2015, when common stock was issued for $250,000. In the first two months of operations, Piel had the following transactions:
The following exchange rates apply:
Required:
Complete the summary income statement and balance sheet for the month ended January 31, 2015 and February 28, 2015, assuming there were no other transactions.

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