An analysis of the transactions made by Cheyenne Corp., a certified public accounting firm, for the month of August, its first month of operations is shown below.

		Assets							=	Liabilities	+	Stockholders’ Equity
		Cash	+	Accounts Receivable	+	Supplies	+	Equipment		Accounts Payable		Common Stock		Retained Earnings
									=		+		+	Revenues	–	Expenses	–	Dividend
1.		$15,850										$15,850
2.		–2,700						$5,700		$3,000
3.		–750				$750
4.		6,300		$3,200										$9,500					Service Revenue
5.		–1,700								–1,700
6.		–1,400																-$1,400
7.		–750														–$750			Rent Expense
8.		350		–350
9.		–3,950														–3,950			Salaries/Wages Expense
10.										400						–400			Utilities Expense

(a)Prepare an income statement for August.

Cheyenne Corp. Income Statement Choose the accounting period  August 31, 2019For the Year Ended August 31, 2019For the Month Ended August 31, 2019
Select an opening name for section one  DividendsExpensesNet Income / (Loss)Retained earnings, August 1Retained earnings, August 31RevenuesTotal ExpensesTotal RevenuesInvestment
Select an item		$Enter a dollar amount
Select an opening name for section two  DividendsExpensesNet Income / (Loss)Retained earnings, August 1Retained earnings, August 31RevenuesTotal ExpensesTotal RevenuesInvestment
Select an item	$Enter a dollar amount
Select an item	Enter a dollar amount
Select an item	Enter a dollar amount
Select a closing name for section two     Dividends    Expenses    Net Income / (Loss)    Retained earnings, August 1    Retained earnings, August 31    Revenues    Total Expenses    Total Revenues    Investment		Enter a total amount for section two
Select a closing name for this statement  DividendsExpensesNet Income / (Loss)Retained earnings, August 1Retained earnings, August 31RevenuesTotal ExpensesTotal RevenuesInvestment		$Enter a total amount for this statement

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