An analysis of the transactions made by Cookie Mountain Legal, a law firm, for the month of July is shown below. Each increase and decrease in stockholders' equity is explained. A. Prepare an income statement for the month ending July 31, 2015. B. Prepare a retained earnings statement for the month ending July 31, 2015. C. Prepare a balance sheet at July 31, 2015.

Assets

=

Liab

+

Stockholders' Equity

Retained Earnings

Cash

+

Accounts Receivable

+

Supplies

+

Equipment

=

Accounts Payable

+

Com Stock

+

Rev.

-Exp

-Div.

1

$15,000

$15,000

2

-2,000

$5,000

$3,000

3

-750

$750

4

2,500

$6,600

$9,100

Rev.

5

-1,500

-1,500

6

-2,500

($2,500)

Div.

7

-750

($750)

Rent.

8

550

-550

9

-4,500

($4,500)

Sal.

10

500

-500

Util.

COOKIE MOUNTAIN LEGAL

Income Statement

For the Month Ended July 31, 2015

Revenues

Expenses

Net income

COOKIE MOUNTAIN LEGAL
Retained Earnings Statement
For the Month Ended July 31, 2015
Retained earnings, July 1
Add: Net income
Less: Dividends
Retained earnings, July 31
COOKIE MOUNTAIN LEGAL
Balance Sheet
As of 07/31/2015
Assets
Total Assets
Liabilities and Stockholders' Equity
Liabilities
Stockholders' Equity
Total liabilities and stockholders' equity