as of the end of Quarter 2, is provided below. The balance sheet of DCC Co 8:5 Assets Liab. & Owners Equity Accounts payable $500 $11,300 $1,000 Cash AIR Inventory parts finished goods $8,000 $4,000 $600 $6,000 Long-term debt Common Stock ($2 par value) Paid-in-surplus Retained Earnings $5,000 $1,400 Total Assets $18,900 Liab. & Owners Equ $18,900 During Quarter 3 DCC purchased $2800 worth of parts, $1500 with cash, the remainder to be paid in Quarter 4. Sold 6 computers, each for $750. 4 were sold for cash, 2 were sold on credit with payment to be received in Quarter 4. The gross margin was 49% Annual interest rate on LTD is 2.0%. Interest is paid and expensed quarterly. SG&A expenses = $500 were paid in Quarter 3 The tax rate is 35% and Quarter 3 taxes will be paid in Quarter 4 The dividend payout ratio (dividends/Net Income) is 32% (paid immediately) 200 new shares of common stock were issued and sold for $2500 in Quarter 3 Purchase the warehouse DCC is located in for $25,000 cash on the first day of Quarter 3 $30,000 long-term debt was issued on the first day of the quarter The warehouse will be depreciated over 20 years. Depreciation is expensed quarterly Create journal entries for Quarter 3 transactions, and the Quarter 3 ending balance sheet. Create a SCF for Quarter 3. Round up the numbers - no decimal points Your report should present the IS, BS and SCF and should be on one page Do not show your journal entries