Sherrye Cravens is a new staff accountant for Oxford Beauty Supply. She has asked you to r...

Sherrye Cravens is a new staff accountant for Oxford Beauty Supply. She 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 Cravens made (she 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 Oxford Beauty Supply.