2. Opie's Dog Food Company begins the month of November with $12,000 in cash and $12,000 in contributed capital. During the month, the company has seven transactions. Analyze the transactions and prepare an income statement and balance sheet for November. (15 points) - Opie invests an additional $20,000 cash in the business. B/S - assets - cash and common stock - The company purchases inventory for $4,000 on credit. B/S - Account payable and inventory - The company sells the entire inventory for $8,000 on account. B.S.: Inv (4,000); R.E. (4,000)> COGS B.S.: A/R (+8,000); R.E. (+8,000)-> Revenue - The company collects $1,000 of the accounts receivable. - The company pays $1,000 on the account payable. - Opie's only employee, Snickers, earns $1,200, to be paid next month. - The company pays dividends of $800. Prepare Opie's Income Statement (ignore taxes): Prepare Opie's Balance Sheet