A clothing Company has the following account balances:

Cash, $6,000;

Accounts Receivable, $7,000;

Prepaid Rent, 1,900;

Prepaid Insurance, $1,200

Supplies, $950;

Equipment, $7,000;

Trucks, $10,000;

Accounts Payable, $2,700;

Common Stock $25,000;

Retained Earnings $6,350.

Transactions during December are presented as follows:

1. Company received cash from clients for services, $7,500

2..Paid to creditors $600,

3. Paid office rent for the month of December, $950,

4. Company billed client for accounting services on account, $8,200

5. Supplies were purchased on account, $450,

6. Company received cash from clients billed previously, $4,200

7. Received an invoice for services from Copy Plus for December (the invoice will be paid next month), $550,

8. Paid monthly salaries, $4,700,

9. Utilities expense were paid, $380

, 10. Miscellaneous expense were paid, $250,

11. Paid for monthly insurance, $200

12. Dividends were paid, $750. R

Apply the basic accounting equation (create a spreadsheet, please see comprehensive example) to complete a transaction analysis for each transaction ( enter the balances provided first). Prepare income statement at the end of December 31. Prepare statement of retained earnings equity at the end of December 31. Prepare balance sheet at the end of December 31.