Alfonso Shone recently opened his own accounting firm on April 1, which he operates as a corporation. The name of the new entity is Alfonso Shone, CPA. Shone experienced the following events during the organizing phase of the new business and its first month of operations in 2024 (Click the icon to view the transactions) Read the requirements Requirement 1. Analyze the effects of the events on the accounting equation of Alfonso Shone, CPA. Use the following accounts: Cash, Accounts Receivable, Office Supplies, Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utilities Expense. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 5 th . For each transaction that follows the transaction on the 5 th, calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on the 30 th, calculate total assets and total liabilities and equity. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines ] Carry down all balances to the "Bal." line, including zero balance accounts. entering a " 0 " for any zero balances. Enter a decrease in an account with a minus sign of parentheses. Abbreviations used: A.P = Accounts Payable; ARR = Accounts Receivable; Corn = Common, Contr. = Contributed. Div. = Dividends; Exp. = Expense; Furn = Furniture; Liab = Liabilities; Rev = Revenue; Sup. = Supplies, Utit = Utilities.) Apr. 5 Shone deposited $55,000 in a new business bank account litled Alfonso Shone, CPA. The business issued common stock to Shone Apr. 6 Paid $500 cash for letterhead stationery for new office. Apr. 7 Purchased office furniture for the office on account, $6,000 Apr. 10 Consulted with tax client and received $2,300 for services rendered. Apr. 11 Paid utilities, \$400. Apr. 12 Finished tax hearings on behalf of a client and submitted a bill for accounting services, $16,000. Apr. 18 Paid office rent, $1,300. Apr. 25 Received amount due from client that was billed on April 12 Apr. 27 Paid full amount of accounts payable created on April 7 Apr. 30 Cash dividends of $1,000 were paid to stockholders. Requirements 1. Analyze the effects of the events on the accounting equation of Alfonso Shone, CPA Use the following accounts: Cash, Accounts Receivable, Office Supplies, Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utilities Expense. 2. Prepare the following financial statements: a. Income statement for the month ended April 30, 2024. b. Statement of retained earnings for the month ended April 30, 2024. c. Balance sheet as of April 30, 2024