B.(4 Section I: 44 points On May 31, 20Y2, Deana's Services Company had account balances as follows: Accounts payable $9,900 Accounts receivable 26,950 Cash 11,390 Fees earned 70,800 Insurance expense Building Accumulated depreciation 1,475 225,000 75,000 Land 174,400 Miscellaneous expense 1,510 Prepaid insurance 2,000 Notes payable (due next year) Notes Payable (due this year) Long-term mortgage payable Rent expense 60,000 20,000 170,000 8,000 Salary expense 35,300 Dividends 15,100 Supplies 950 Supplies expense 825 Utilities expense 3,800 Capital stock 81,000 Retained earnings (beginning balance on May 1, 20Y2) Retained earnings (ending balance on May 31, 20Y2) 20,000 ????? Present, in good form, (a) an income statement for May, (b) a statement of stockholder's equity as of May 31, and (c) a classified balance sheet as of May 31, showing current assets, fixed assets, current liabilities, long term liabilities, stockholders' equity. (A) Deana's Services Company Income Statement For the Month Ended May 31, 20Y2 __ ___________________________________________________________________ (B) Deana's Services Company Statement of Stockholders Equity For the Month Ended May 31, 20Y2 (C) Deana's Services Company Classified Balance Sheet May 31, 20Y2 Assets Current Assets Long-Term Assets (Fixed Assets) Liabilities Current Liabilities Long-Term Liabilities Stockholder's Equity Section II: 40 points 2.Danielle Dog is the sole stockholder in Dog, the Beauty Hunter, Inc., a modeling agency.Below are transactions which occurred in the operation of the company during the month of June.Record each transaction on the worksheet that has been supplied for this purpose, including entries in the description column for any amounts entered into Retained Earnings.There is no need to total all of the columns. oJune 2Purchased equipment at a cost of $12,000, making a cash down payment of $3,000 and obtaining a bank loan for the rest. oJune 10Performed services for a client on account, $10,000. oJune 20Made a payment on account, $400 oJune 24Received payment from a client on account for services previously provided, $5,000 oJune 27Paid $1,200 to the bank.Of that amount, $1,000 was a repayment of the loan and $200 was interest. oJune 28Paid salaries for June, $8,000 oJune 30Paid a dividend, $5,000 Assets = Liabilities + Stockholders' Equity Date Cash Accounts Receivable Equipment Bank loan payable Capital Stock Retained Earnings Description 6/2 6/10 6/20 6/24 6/27 6/28 6/30 Section III: 16 points There are three (3) parts to this problem. A)There are two (2) reasons why certain assets depreciate. List those reasons here: (1)___________________________________________________ (2)___________________________________________________ B)Dog's equipment has a useful life of 4 years. Calculate the depreciation for the month of June in the space below. Show ALL of your work. C)At the end of June, Dog's has $300 of supplies on hand. It started the month of June with $800 of supplies. What would be Dog's supplies expense for the month of June? Show your work