5 points eBook Print References The accountant for the firm owned by Vincent Sutton prepares financial statements at the end of each month, Transactions: a. Sutton invested $151,000 in cash to start the business. b. Paid $5,100 for the current month's rent c. Bought office furniture for $15,820 in cash. d. Performed services for $7,300 in cash. e. Paid $1,160 for the monthly telephone bill. f. Performed services for $13,100 on credit. g. Purchased a computer and copier for $36,200; paid $12,100 in cash immediately with the balance due in 30 days. h. Received $6,550 from credit clients. i. Paid $3,100 in cash for office cleaning services for the month. j. Purchased additional office chairs for $4,900; received credit terms of 30 days. k. Purchased office equipment for $31,000 and paid half of this amount in cash immediately; the balance is due in 30 days. I. Issued a check for $8,500 to pay salaries. m. Performed services for $13,600 in cash. n. Performed services for $15,100 on credit. o. Collected $7,100 on accounts receivable from charge customers. p. Issued a check for $2,450 in partial payment of the amount owed for office chairs. q. Paid $610 to a duplicating company for photocopy work performed during the month. r. Paid $1,130 for the monthly electric bill. s. Sutton withdrew $8,100 in cash for personal expenses. Required: Prepare a trial balance, an income statement, a statement of owner's equity, and a balance sheet. Assume that the transactions took place during the month ended June 30, 20X1. Determine the account balances before you start work on the financial statements. Income Trial Balance Statement Stmt of Owners Eqty Balance Sheet Analyze Determine the account balances and prepare a trial balance for the month ended June 30, 20X1. VINCENT SUTTON, LANDSCAPE CONSULTANT Trial Balance June 30, 20X1 ook Account Name Debit Credit nt ences Total $ 0 $ 0 5 points 8 00 Trial Balance Income: Statement Stmt of Owners Eqty Balance Sheet Analyze Prepare an income statement for the month ended June 30, 20X1. VINCENT SUTTON, LANDSCAPE CONSULTANT Income Statement Month Ended June 30, 20X1 eBook Revenue Print References Expenses Total expenses 8 Trial Balance ints St eBook Print References Income Statement Stmt of Owners Eqty Balance Sheet Analyze Prepare a statement of owner's equity for the month ended June 30, 20X1. VINCENT SUTTON, LANDSCAPE CONSULTANT Statement of Owner's Equity Month Ended June 30, 20X1 Check my work Trial Balance Income Statement Stmt of Owners Eqty Balance Sheet Analyze Prepare a balance sheet for the month ended June 30, 20X1. VINCENT SUTTON, LANDSCAPE CONSULTANT Assets Balance Sheet June 30, 20X1 Liabilities Owner's Equity Total Assets $ 0 Total Liabilities and Owner's Equity $ 0