A number of business transactions carried out by Fordy, Inc are as follows

Feb-4. Deposited 80000 received from the sale of capital stock.

5 Borrowed 100,000 from the bank and signed a note payable.

6 paid 300 for stationery

7 purchased office furniture for the office and agreed to pay the account payable 7000 within 3 months

10 sold 500 shares of stock, receiving 75000.

18 submitted a bill for legal services, $5,000. expected to collect the amount within 2 weeks

20 Recorded 7500 of revenue received in cash.

25 paid office rent, 1000

28 paid dividends, 2,200

Required

Analyze the effects of the preceding transactions on the accounting equation.

Prepare the income statement of Fordy for the month ended Feb 28, 2013.

Prepare the statement of retained earnings of Fordy for the month ended Feb 28, 2013.

Prepare the company's balance sheet at Feb 28, 2013.