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Sanyu Sony started a new business and completed these transactions during December.

Sanyu Sony started a new business and completed these transactions during December. Dec.
1 Sanyu Sony transferred $65,000 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock.
2 The company rented office space and paid $1,000 cash for the December rent.
3 The company purchased $13,000 of electrical equipment by paying $4,800 cash and agreeing to pay the $8,200 balance in 30 days.
5 The company purchased office supplies by paying $800 cash.
6 The company completed electrical work and immediately collected $1,200 cash for these services.
8 The company purchased $2,530 of office equipment on credit.
15 The company completed electrical work on credit in the amount of $5,000.
18 The company purchased $350 of office supplies on credit.
20 The company paid $2,530 cash for the office equipment purchased on December 8.
24 The company billed a client $900 for electrical work completed; the balance is due in 30 days.
28 The company received $5,000 cash for the work completed on December 15.
29 The company paid the assistant's salary of $1,400 cash for this month.
30 The company paid $540 cash for this month's utility bill.
31
The company paid $950 cash in dividends to the owner (sole shareholder).

Prepare an income statement, statement of rettained earings, balance sheet, and statement of cash flows for the current month.

Income StatementService Revenue $7,100Less  : Operating Expense $2,940Net Profit $4,160Balance SheetAssets :Cash $59,180Accounts Receivable $900Office Supplies $1,150Equipment $15,530Total Assets $76,760Liabilities :Accounts Payable $350Notes Payable $8,200Equity :Common Stock $65,000Retained Earnings $3,210Total Equity and Liabilities $76,760Statement of Retained earnings :Net Income $4,160Less : Dividends $950Retained Earnings at end $3,210Learn more atbrainly.com/question/14957574...

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