Based on the experience gained at Volume Pizza, Robert decided to open his own pizza business. Below are listed the transactions that Robert made while opening his business during the month of January 2015. Create a Balance Sheet, in proper form, that shows the effect of the Opening Transactions on the balance sheet as of 1/31/2015. Opening Transactions A.) Robert borrowed $80,000 Cash from ABC Bank in the form of a 10 year Loan B.) Robert Contributed Capital of $20,000 to start his business in the form of Cash C.) Purchased $10,000 of Inventory (dough, sauce, cheese, etc) on Account D.) Purchased $50,000 of Equipment (oven, pans, etc) for Cash E.) Prepaid an entire year of insurance for $4000 Cash Robert's Pizza opened for business on February first. Below are listed the transactions that occurred at Robert's Pizza from February through the end of December. Create a Balance Sheet and Income Statement, in proper form, that shows the effect of the Operating Transactions on the financial statements as of 12/31/2015. Operating Transactions F.) Increased Revenues $385,000. Increase Accts Receivable $25,000 and Cash $360,000 G.) Increased Inventory and increase Accounts Payable $160,000 H.) Used $163,000 of Inventory as Direct Materials in the pizzas that were sold I.) Increased Advertising Expense $30,000, Utilities $27,000 and Accounts Payable $57,000 J.) Recorded $5,000 Depreciation Expense on Equipment for the year K.) Paid $7,000 of principal on Loan and $4,000 Interest Expense using Cash L.) Recorded $3,500 of Insurance Expense and decrease Prepaid by same amount M.) Increase Cash and decrease Accts Receivable $18,000 N.) Decrease Cash and decrease Accounts Payable $220,000 O.) Paid $118,000 of Direct Labor with Cash P.) Recorded year end Net Income to Retained Earnings