identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded. December 1 On December 1, Nina Miller forms a consulting business, naned Eco Build. Eco Build receives $56,000 cash from Nina Miller in exchange for common stock. December 2 Eco Build pays $3,800 cash for supplies. The company's policy is to record all prepaid expenses in asset accounts. December 3 Eco Build pays $40,000 cash for equipment. December 4 Eco Build purchases $9,100 of supplies on credit from a supplier, CalTech Supply. December 5 Eco Build provides consulting services and immediately collects $5,500 cash. December 6 Eco Build pays $2,300 cash for December rent. December 7 December & December 9 December 18 Eco Build pays $2,000 cash for employee salary. Eco Build provides consulting services of $3,100 and rents its test facilities for $1,808. The customer is billed 154,900 for these services. Eco Build receives 14,900 cash from the client billed on December 8. Eco Build pays CalTech Supply $2,200 cash as partial payment for its December 4 39,100 purchase of oliet. suppl December 11 Eco pays 1700 cash for dividends. December 12 Eco Build receives $3,500 cash in advance of providing consulting services to a customer. The company's policy is to record fees collected in advance in a balance sheet account. December 13 Eco Build pays $3,700 cash (insurance prentue) for a 24-eonth insurance policy. Coverage begins on December 1. The company's policy is to record all prepaid expenses in a balance sheet account. December 14 Eco Build pays $1,420 cash for supplies. December 15 Eco Build pays $1,605 cash for December utilities expense. Decenter 16 Eco Build pays $1,358 cash in employee salary for work performed in the latter part of December. Requirement Tral Balance Balance Sheet PS Impact The financial statements report the cumulative impact of all transactions recorded as of the financial statement date. Input the cumulative amount of a) Net Income (Loss), b) Total Assets, c) Total Liabilities, and d) Total Equity that would be reported on the financial statements immediately after each transaction is recorded. (Hint: You can check your answers by selecting the date on the trial balance tab.) The first 3 transactions are completed for you! General Journal General Ledger Income Statement St Retained Earnings Show less & 1 1 points eBook pret References Mc Transaction: Where can you go to find each of your answers? December 1-Eco Build receives $56,000 cash from Nina Miller in exchange for common stock. December 2-Pays $3,800 cash for supplies. December 3-Pays $40,000 cash for equipment. December 4-Purchases $9.100 of supplies on credit from a supplier. December 5-Provides consulting services and immediately collects $5,500 cash. December 6-Pays $2,300 cash for December rent. December 7-Pays $2,000 cash for employee salary December 8-Provides consulting services of $3,100 and rents its test facilities for $1,800. The customer is billed $4,900 for these services. December 9-Receives $4,900 cash from the client bilied on December 8. December 10-Pays CalTech Supply $2,200 cash toward the payable from December 4. December 11-Eco Build pays $700 cash for dividends. December 12-Receives $3,500 cash in advance of providing consulting services to a customer. December 13-Pays $3,700 cash (insurance premium) for a 24-month insurance policy. Coverage begins on December 1. December 14-Pays $1,420 cash for supplies, December 15- Pays $1,605 cash for December utilities expense. December 16 Pays $1,350 cash in amployee salary for work performed in the latter part of December. Net Income $ Total Assets 0 $ 0 0 Total Liabilities 56,000 $ 56,000 56,000 Total Equity 0 $ 0 0 56,000 56,000 56,000 1 1 points eBook pret References Mc Transaction: Where can you go to find each of your answers? December 1-Eco Build receives $56,000 cash from Nina Miller in exchange for common stock. December 2-Pays $3,800 cash for supplies. December 3-Pays $40,000 cash for equipment. December 4-Purchases $9.100 of supplies on credit from a supplier. December 5-Provides consulting services and immediately collects $5,500 cash. December 6-Pays $2,300 cash for December rent. December 7-Pays $2,000 cash for employee salary December 8-Provides consulting services of $3,100 and rents its test facilities for $1,800. The customer is billed $4,900 for these services. December 9-Receives $4,900 cash from the client bilied on December 8. December 10-Pays CalTech Supply $2,200 cash toward the payable from December 4. December 11-Eco Build pays $700 cash for dividends. December 12-Receives $3,500 cash in advance of providing consulting services to a customer. December 13-Pays $3,700 cash (insurance premium) for a 24-month insurance policy. Coverage begins on December 1. December 14-Pays $1,420 cash for supplies, December 15- Pays $1,605 cash for December utilities expense. December 16 Pays $1,350 cash in amployee salary for work performed in the latter part of December. Net Income $ Total Assets 0 $ 0 0 Total Liabilities 56,000 $ 56,000 56,000 Total Equity 0 $ 0 0 56,000 56,000 56,000