1 (1 mark) Complete the equations of the following financial statements: 1. Income Statement: Net Income = Total Revenue 2. Statement of Retained Earnings: Ending Retained Earnings - Profits Total Expenses. Opening Retained Earning Dividend Paid Net Question 2 (8 marks) For each of the below events, perform transaction analysis, prepare journal entries and accounts. 1. Receives and pays for a $15,000 truck and $5,000 of equipment. prepare T- Transaction Analysis Assets Journal Entry Liabilities Stockholders' Equity Relevant T-Accounts (mention debit and credit) Enter Account Name Enter Account Name Enter Account Name 2. Purchases $300 of supplies on account Transaction Analysis Assets Journal Entry Liabilities Stockholders' Equity Relevant T-Accounts (mention debit and credit) Enter Account Name Enter Account Name Enter Account Name 3. Company borrows $15,000 signing a note payable with the bank Transaction Analysis Assets Journal Entry Liabilities + Stockholders' Equity Relevant T-Accounts (mention debit and credit) Enter Account Name Enter Account Name Enter Account Name 4. Purchased $14,000 in equipment, paid $2,000 in cash and signed a long-term note with a bank for the balance. Transaction Analysis Assets Journal Entry Liabilities Relevant T-Accounts (mention debit and credit) Enter Account Name Stockholders' Equity Enter Account Name Enter Account Name