Final answer:
To prepare the income statement for the month of April, we need information on revenues and expenses. To prepare the balance sheet as of April 30, we can list the assets, liabilities, and equity from the given information.
Step-by-step explanation:
To prepare the income statement for the month of April, we need information on revenues and expenses. Since this information is not provided, we cannot prepare the income statement.
To prepare the balance sheet as of April 30, we need to list the assets, liabilities, and equity as of that date. From the given information, the assets are reserves ($30), bonds ($50), and loans ($50).
The liabilities are deposits ($300) and equity ($30).
Balance Sheet as of April 30:
Assets:
Reserves: $30
Bonds: $50
Loans: $50
Total Assets: $130
Liabilities:
Deposits: $300
Equity: $30
Total Liabilities and Equity: $330