Assets = Liabilities Stockholders' Equity Cash + A/R + Supp. + Equip. = Accounts Payable + Common Stock + Retained Earnings Revenues - Expenses - Dividends 1. $19,600 $19,600 2. -1,700 $5,100 $3,400 3 -630 $630 4. 3,400 $6,000 $9,400 Serv. Rev. 5 . -2,500 -2,500 6 . -2,700 -$2,700 7. -820 $820 Rent Exp. 8. 510 -510 -2,800 -2,800 Sal. Exp. 10 280 -280 Util. Exp. (a) Prepare an income statement for August. SANDHILL CO. Income Statement 9 FEB 19