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1 Required information [ The following information applies to the questions displayed below. ] October's Very Own started a new business and completed these transactions

1
Required information
[The following information applies to the questions displayed below.]
October's Very Own started a new business and completed these transactions during December.
December 1 OVO transferred $68,400 cash from a personal savings account to a checking account in the name of Sony Electric.
December 2 The company paid $1,800 cash for the December rent.
December 3 The company purchased $14,300 of electrical equipment by paying $6,100 cash and agreeing to pay the $8,200 balance in 30 days.
December 5 The company purchased supplies by paying $800 cash.
December 6 The company completed electrical work and immediately collected $1,200 cash for these services.
December 8 The company purchased $2,960 of office equipment on credit.
December 15 The company completed electrical work on credit in the amount of $4,200.
December 18 The company purchased $330 of supplies on credit.
December 20 The company paid $2,960 cash for the office equipment purchased on December 8.
December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days.
December 28 The company received $4,200 cash for the work completed on December 15.
December 29 The company paid the assistant's salary of $1,400 cash for this month.
December 30 The company paid $570 cash for this month's utility bill.
December 31 OV0 withdrew $970 cash from the company for personal use.
2-a. Prepare the income statement for the current month.
2-b. Prepare the statement of owner's equity for the current month.
2-c. Prepare the balance sheet as of the end of the month.
3. Prepare the statement of cash flows for the current month.
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