Analyzing Transactions Using the Financial Statement Effects Template and Preparing Financial Statements $4,125; Retained Earnings, \$900; Services Revenue, \$0; Rent Expense, \$0; Advertising Expense, \$0; Wages Expense, \$0; Utilities Expense, \$0; Interest Expense, \$0. The following transactions occurred during january. Required (1) Paid $450 cash toward accounts payable (2) Paid $2,700 cash for January rent (3) Billed clients $8,625 for January classes (4) Received $375 invoice from supplier for T-shirts given to January class members as an advertising promotion (5) Collected $7,500 cash from clients previously billed for services rendered (6) Paid $1,800 cash for employee wages (7) Received $510 invoice for January utilities expense (8) Paid $15 cash to bank as January interest on notes payable (9) Declared and paid $675 cash dividend to stockholders (10) Paid $3,000 cash on January 31 to purchase sound equipment to replace the rental system