107.The T account balances for the accounts of Rya's Planning Services as of January 31, 2016 are listed below.  Using the information given for Rya's Planning Services, create an Income Statement, Statement of Owner's Equity, and Balance Sheet for January 2016.

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Selected accounts and related amounts for Druid Hills Co. for the fiscal year ended May 31, 20Y8, are presented in Problem 6-5A.   Adjunt problem 6-5A Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 12. 2. Prepare closing entries as of May 31, 20Y8.

Please answer complete question,,,answer in text form please (without image)

Davidson Company was started on May 1, 2021 by Jane Davidson. Using the adjustedaccount balances below, prepare IN GOOD FORM the Income Statement, Owner’s EquityStatement and Balance Sheet for the month completed May 31, 2021.***Be very careful with the information, as the accounts are provided in alphabetical order. You must prepare the Financial Statements with the appropriate accounts, in the appropriate order.  Advertising Expense 6,000 Accounts Payable 9,000 Accounts Receivable 15,400 Accumulated Depreciation: Equipment 8,000 Cash 10,300 Commissions Revenue 12,000 Depreciation Expense 14,000 Equipment 36,000 Insurance Expense 3,200 Interest Expense 2,800 Interest Payable 1,000 Notes Payable 12,000 Prepaid Insurance 2,600 Rent Expense 3,000 Salaries Expense 39,000 Salaries Payable 7,500 Service Revenue 78,000 Owner’s Capital 20,000 Owner’s Drawing 10,000 Supplies 2,500 Supplies Expense 5,700 Unearned Revenue 5,000 Utilities Expense 2,000

Evaluate the company’s latest annual financial statements (balance sheet, income statement, and cash flow statement) and comment on the company's financial performance and position. In your response, use the requirements of IAS 1 as a guide.b) Identify and discuss key accounting principles and standards applied in the company’s financial reporting process indicating their reasons for choosing these and how they were applied. Comment briefly on the appropriateness of the choices made given the company’s industry, location and type (e.g. MNC, regional conglomerate, etc.)c) Critically analyze any significant accounting policies and estimates disclosed in the notes to the financial statements. In your answer, indicate whether the company complied with the accounting standards and conventions.