2A. Transaction Analysis, Trial Balance, and Financial Statements Angela Mica operates the Mica Dance Studio. On June 1, the business's general ledger contained the following information: Cash Accounts receivable $ 5.930 Accounts payable. $ 480 8,400 Notes payable. 3,980 Common stock 7.870 Retained eamings 2,000 $14,330 $14,330 The following transactions occurred during the month of June: 1 Paid June rent for practice studio, $875. 2 Paid June piano rental, $240 (Rent Expense). 3 Collected $5.320 from students on account. 4 Borrowed $1.500 and signed a promissory note payable due in six months. 5 Billed students for June instructional fees. $7,500. 6 Paid interest for June on notes payable, $30. 7 Paid $375 for advertising ballet performances. 8 Paid costume rental. $550 (Rent Expense). 9 Collected $2.100 admission fees from ballet performances given during the month. 10 Paid $480 owed on account. 11 Received invoice for June utilities, to be paid in July, $510. 12 Paid stockholders $900 cash as a dividend. 13 Purchased piano for $5.500 cash, to be used in business starting in July. Required 12. Set up accounts for the general ledger with June 1 balances and enter the beginning balances. Also provide the following accounts: Piano: Dividends: Instructional Fees Earned: Performance Revenue: Rent Expense: Utilities Expense: Advertising Expense: and Interest Expense. Record the listed transactions in the accounts. Prepare a trial balance as of June 30. Prepare an income statement for the month of June.