1. Prepare an income statement for the month ended July 31, 2018.

2. Prepare a retained earnings statement for the month ended July 31, 2018. If an answer is zero, enter "0". If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign.

3. Prepare a balance sheet as of July 31, 2018. When entering assets, enter them in order of liquidity.

4. Prepare a statement of cash flows for the month ending July 31, 2018. For those boxes in which no entry is required, enter "0". Use the minus sign to indicate cash outflows, cash payments, and decreases in cash.

Seth Feye established Reliance Financial Services on July 1, 2018. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July are shown below. Assets = Liabilities + Stockholders' Equity Rent Cash + Accounts Receivable + Supplies = Accounts Payable + Common Stock Dividends + Fees Earned Salaries Expense Auto Expense Supplies Expense Misc. Expense Expense a. +42,490 +42,490 b. +3,700 +3,700 Bal. 42,490 3,700 3,700 42,490 c. +41,640 +41,640 Bal. 84,130 3,700 3,700 42,490 41,640 d. -11,500 -11,500 Bal. 72,630 3,700 3,700 42,490 41,640 -11,500 e. -1,780 -1,780 Bal. 70,850 3,700 1,920 42,490 41,640 -11,500 f. +29,300 +29,300 Bal. 70,850 29,300 3,700 1,920 42,490 70,940 -11,500 g. -8,070 -5,520 -2,550 Bal. 62,780 29,300 3,700 1,920 42,490 70,940 -11,500 -5,520 -2,550 h. -17,000 -17,000 Bal. 45,780 29,300 3,700 1,920 42,490 70,940 -17,000 -11,500 -5,520 -2,550 i. -2,100 -2,100 Bal. 45,780 29,300 1,600 1,920 42,490 70,940 -17,000 -11,500 -5,520 -2,100 -2,550 j. -10,600 - 10,600 Bal. 35,180 29,300 1,600 1,920 42,490 - 10,600 70,940 -17,000 -11,500 -5,520 -2,100 -2,550