An analysis of the transactions made by Cullumber & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $550 for rent, $5,200 for salaries and wages, and $700 for utilities. Accounts Accounts Owner's Owner's Receivable Supplies Equipment Payable Capital Drawings Revenues Expenses Cash 1. $15,900 $15,900 2 -1,200 $4,000 $2,800 3. -650 $650 4. 5,000 $3,500 5. -1,200 6. -2,200 $8,500 -1,200 -$2,200 7. -550 8. 9. 450 -5,200 -450 700 10. Assume that August is the company's first month of business. -$550 -5,200 -700 CULLUMBER & CO. Income Statement (a1) Prepare an income statement for August 31, 2020. SA (a1) Prepare an income statement for August 31, 2020. 5 y CULLUMBER & CO. Income Statement Drawings Expenses Net Income (Loss) Owner's Capital, August 1 Owner's Capital, August 31 Revenues Total Expenses Total Revenues Investments CHAWIST OF ACCOUNTS +A +A w Work for this question: Open Show Work