/1 E Question 4 of 6 View Policies < Current Attempt in Progress 7 On August 31, the balance sheet of Whispering Winds Corp. showed Cash $10,000, Accounts Receivable $2,700, Supplies $600, Equipment $6,000, Accounts Payable $4,600, Common Stock $13,950, and Retained Earnings $750. During September, the following transactions occurred. 1. Paid $2,200 cash for accounts payable due. 2. Collected $1,650 of accounts receivable. 3. Purchased additional equipment for $2.150, paying $900 in cash and the balance on account. 4. Recognized revenue of $8,000, of which $2,950 is collected in cash and the balance is due in October. 5. Declared and paid a $1,050 cash dividend. 6. Paid salaries $2,050, rent for September $1,150, and advertising expense $200. 7. Incurred utilities expense for month on account $260. 8. Received $12,000 from Capital Bank on a 6-month note payable. www Question 4 of 6 < > -/1 E Prepare a tabular analysis of the September transactions beginning with August 31 balances. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Bal. 1. 2 3. Assets Accounts Cash Receivable 4. Supplies Equip $ Question 4 of 6 < > Prepare an income statement for September. Whispering Winds Corp. Income Statement $ -/1 Prepare a retained earnings statement for September. (List items that increase retained earnings first.) Whispering Winds Corp. Retained Earnings Statement +A estion 4 of 6 < > Prepare a balance sheet at September 30. (List Assets in order of liquidity.) Whispering Winds Corp. Balance Sheet Assets Liabilities and Stockholders' Equity SA -/1 E