After several months of planning, Barbara Schmidt started a haircutting business called The Cutlery. The following events occurred during its first month: a. On August 1, Schmidt put $3,000 cash into a checking account in the name of The Cut- lery. She also invested $15,000 of equipment that she already owned. b. On August 2, she paid $600 cash for furniture for the shop. c. On August 3, she paid $500 cash to rent space in a strip mall for August. d. On August 4, she furnished the shop by installing the old equipment and some new equipment that she bought on credit for $1,200. This amount is to be repaid in three equal payments at the end of August, September, and October e On August 5, The Cutlery opened for business. Receipts from cash sales in the first week and a half of business (ended August 15) were $825. f. On August 17, Schmidt paid $125 to an assistant for working during the grand opening. & Cash receipts from sales during the second half of August were $930. h. On August 31, Schmidt paid an installment on the account payable. i. On August 31, she withdrew $900 cash for her personal use. 1. ARRANGE, THE ACCOUNTING TABLE (EQUATION). 2. PREPARE, AN INCOME STATEMENT FOR AUGUST. 3. PREPARE A STATEMENT OF CHANGES IN OWNER'S EQUITY FOR AUGUST. 4. PREPARE A BALANCE SHEET FOR AUGUST. 5. PREPARE A STATEMENT OF CASH FLOWS STATEMENT FOR AUGUST