Refer to the table for Rapid City Roller Rink in part (1) of Problem 3-9A.

Required
1. Prepare a trial balance at October 31.
2. Prepare an income statement for the month of October.
3. Prepare a statement of retained earnings for the month of October.
4. Prepare a classified balance sheet at October 31.

Data From Problem 3-9A:

Three friends organized Rapid City Roller Rink on October 1. The following transactions occurred during the first month of operations:

October 1: Received contribution of $22,000 from each of the three principal owners of the new business in exchange for shares of stock.
October 2: Purchased land valued at $15,000 and a building valued at $75,000. The seller agreed to accept a down payment of $9,000 and a five-year promissory note for the balance.
October 3: Purchased new tables and chairs for the lounge at the roller rink at a cost of $25,000, paying $5,000 down and agreeing to pay for the remainder in 60 days.
October 9: Purchased 100 pairs of roller skates for cash at $35 per pair.
October 12: Purchased food and drinks for $2,500 on an open account. The company has 30 days to pay for the concession supplies.
October 13: Sold tickets for cash of $400 and took in $750 at the concession stand.
October 17: Rented out the roller rink to a local community group for $750. The community group is to pay one-half of the bill within five working days and has 30 days to pay the remainder.
October 23: Received 50% of the amount billed to the community group.
October 24: Sold tickets for cash of $500 and took in $1,200 at the concession stand.
October 26: The three friends, acting on behalf of Rapid City Roller Rink, paid a dividend of $250 on the shares of stock owned by each of them, or $750 in total.
October 27: Paid $1,275 for utilities.
October 30: Paid wages and salaries of $2,250.
October 31: Sold tickets for cash of $700 and took in $1,300 at the concession stand.

Required
1. Prepare a table to summarize the preceding transactions as they affect the accounting equation. Ignore depreciation expense and interest expense. Use the format in Exhibit 3-1. Identify each transaction with a date.