(Solution) - Refer to Problem 2 49B After completing the trial balance in -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Refer to Problem 2-49B. After completing the trial balance in Problem 2-49B, prepare the following financial statements for John Hilton, CPA, P.C.:
Requirements
1. Income statement for the month ended April 30, 2012.
2. Statement of retained earnings for the month ended April 30, 2012. The beginning balance of retained earnings was $0.
3. Balance sheet at April 30, 2012.