Financial StatementsNed Turner is a new staff accountant for Sarah’s Beauty Supply. He has...

Financial Statements

Ned Turner is a new staff accountant for Sarah’s Beauty Supply. He has asked you to review the financial statements prepared for April to find and correct any errors. Review the income statement and balance sheet that follow and identify the errors Turner made (he did not prepare a statement of owner’s equity). Prepare a corrected income statement and balance sheet, as well as a statement of owner’s equity, for Sarah’s Beauty Supply.