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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.
Stability
The condition of being resistant to change and not easily upset or disturbed.
Internality
The belief in one's ability to control events and outcomes in their own life, often associated with a proactive mindset.
Externality
A term in economics where a cost or benefit that affects a party who did not choose to incur that cost or benefit.
External Attribution
The process of attributing the cause of one's own or others' behavior to external factors, rather than to internal personality traits.
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