(Solved): French Taylor is a new staff accountant for Fashion House Beauty Supply. He has asked you to review ...

French Taylor is a new staff accountant for Fashion House 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 Taylor made (he did not prepare a statement of owner's equity). Prepare a corrected income statement for Fashion House Beauty Supply.