Answer: income statement: Net income $5,100, Statement of owners Equity :Total $35,100, Balance sheet : Total Liabilities $53,200, Total Asset $53,200
Explanation:
 Thompson Decoration Services 
 Income Statement for the month ended 31 st October 20X6
 $
Revenue. 18,300
Less Expenses
Salaries. 8,700
Advertising 2,500
Less: outstanding 700
 ------- 
 1,800
Taxes. 150
Postage. 1,800
Utilities. 100
Interest. 450
Miscellaneous. 200
 ------------
 13,200
 --------------
Net income. 5,100
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Statement of owners Equity for the month ended 31st October 20X6
Common Stock. Paid in capital. Retained Earnings Treasury stock Total
Balance Oct 1. 30,000. 30,000 
Issued share for cash. - - - - -
Purchase of treasury stock - - - - -
Net income. - - 5,100. 5,100
Cash dividend. - - - - - 
Stock dividend. - - - - -
 ------ ------ --------- ---------- -------------
Balance on Oct 31. - - 5,100 - 35,100
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 Thompson Decoration Service 
 Balance sheet for the month ended 31st October 20X6
  $
Current Asset
Debtors. 4,100
Account Receivable 14,200
 -----------
Total Current Asset. 18,300
Fixed Asset
Van. 16,000
Office Equipment. 4,000
Furnishing. 14,900
 ----------- 
Total Fixed Asset. 34,900
 --------------
Total Asset. 53,200
 ---------------
Long term Liabilities 
Capital. 30,000
Add: Net income 5,100
 ----------
 35,100
Less: Drawing. 5,500
 -----------
 29,600
Loan. 20,000
 -----------
 Total Long term Liabilities 49,600
Current Liabilities 
Outstanding 2,800
Interest. 450
Taxes. 150
Miscellaneous 200
 --------------
Total Current Liabilities 3,600
 --------------
Total Liabilities. 53,200
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