9. The company letu Required a. Record the effect of each transaction using the fIan b Prepare a March income statement and a balance sheet as of the sheet. Lo2, 4 P3.59. Analyzing Transactions Using the Financial Statement Effects Template $70,000 110,000 35,000 Hanlon Advertising Company began the current month with the following balance Cash 135,000 Contributed capital.110 Noncash assets .$215,000 $21 MBC $215,000 Total liabilities and equity. .. Total assets. Following are summary transactions that occurred during the current month 1. The company purchased supplies for $5,000 cash; none were used this month. 2. Services of $2,500 were performed this month on credit. 3. Services were performed for $10,000 cash this month. 4. The company purchased advertising for $8,000 cash; the ads will run next month. 5. The company received $1,200 cash as partial payment on accounts receivable from transaction 2 6. The company paid $3,400 cash toward the accounts payable balance reported at the beginning of the month. 7. The company paid $3,500 cash toward this month's wages expenses. 8. The company declared and paid dividends of $500 cash. Required a. Record the effects of each transaction using the financial statement effects template. b. Prepare the income statement for this month and t he balance sheet as of month-end