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1) What are the total assets? 2) What are the total liabilities + shareholders equity? Please show work. Thanks! June 1 To raise capital, the

image text in transcribed1) What are the total assets?

2) What are the total liabilities + shareholders equity?

Please show work. Thanks!

June 1 To raise capital, the company issued $41,000 of Common Stock for Cash June 2 Borrowed from the First Bank of Baltimore and signed a promissory note $56,000 June 3 Purchased Supplies with Cash $975 June 4 Purchased a computer from a local office supply store on account $1,300 June 5 Provided tutorial services on account for 3 students $1,975 June 5 Paid rent for the month $925 June 6 placed and paid for an ad in a newspaper to run this month $230 June 7 Paid the office supply store fully for the computer purchased on June 4 June 8 Received $230 cash from tutorial services provided on account on June 5 June 15 Provided additional tutorial services to students for cash $600 June 30 Determined that $390 of supplies was remaining June 30 Declared and paid dividends in the amount of $680

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