From the information given below, prepare a November income statement, a November statement of changes in equity, and a November 30 balance sheet. On November 1 of the current year, Lois Bell began Lois Bell, Interior Design with an initial investment of $50,000 cash. On November 30 her records showed the following (alphabetically arranged) items and amounts.
Definitions:
Declines
Declines refer to the reduction in value, quantity, quality, or strength of something over a period of time.
Breach
The violation or non-fulfillment of a contract, agreement, or duty.
Delayed Opening
A situation where the start of something, such as a business day or event, is postponed from its scheduled time.
Timely Performance
Executing or completing a task or duty within the allocated or agreed upon time frame.
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