Christine Sutherland opens a research services business near a college campus. She names the corporation Sutherland...

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Christine Sutherland opens a research services business near a college campus. She names the corporation Sutherland Research Inc. During the first month of operations, September 2020, the business engages in these transactions. (Click the icon to view the transactions.) Requirements 1. Analyze the preceding transactions in terms of their effects on the accounting equation of Sutherland Research Inc. 2. Prepare the income statement, statement of retained earnings, and balance sheet of Sutherland Research Inc. after recording the transactions. Indicate the relationships within the statements that link them together. Requirement 1. Analyze the preceding transactions in terms of their effects on the accounting equation of Sutherland Research Inc. (Use parentheses or a minus sign for numbers to be subtracted. If a box is not used in the table, leave the box empty; do not select a label or enter a zero. Enter the transactions in the same order as they appear in the transaction list.) Type of Shareholders' Assets Liabilities Shareholders' Equity Equity Transaction Office Cash + Supplies + Land Accounts Common Retained Payable Shares Earnings (a) (b) Transactions Choose 10 a. C. Sutherland Research Inc. issues common shares to Christine Sutherland, who invests $27,000 to open the business. b. The company purchases, on account, office supplies costing $370. Sutherland Research Inc. pays cash of $15,000 to acquire a lot near the campus. The company intends to use the land as a building site for a business office. d. Sutherland Research Inc. performs services for clients and receives cash of $2,600. e. f. g- Sutherland Research Inc. pays $140 on the account payable from transaction (b). Christine Sutherland pays $1,500 in personal funds for a vacation. Sutherland Research Inc. pays cash expenses for office rent ($320) and utilities ($85). h. The business sells a small parcel of the land it purchased for its cost of $3,500. i. The business declares and pays a cash dividend of $1,000. Print Done X Christine Sutherland opens a research services business near a college campus. She names the corporation Sutherland Research Inc. During the first month of operations, September 2020, the business engages in these transactions. (Click the icon to view the transactions.) Requirements 1. Analyze the preceding transactions in terms of their effects on the accounting equation of Sutherland Research Inc. 2. Prepare the income statement, statement of retained earnings, and balance sheet of Sutherland Research Inc. after recording the transactions. Indicate the relationships within the statements that link them together. Requirement 1. Analyze the preceding transactions in terms of their effects on the accounting equation of Sutherland Research Inc. (Use parentheses or a minus sign for numbers to be subtracted. If a box is not used in the table, leave the box empty; do not select a label or enter a zero. Enter the transactions in the same order as they appear in the transaction list.) Type of Shareholders' Assets Liabilities Shareholders' Equity Equity Transaction Office Cash + Supplies + Land Accounts Common Retained Payable Shares Earnings (a) (b) Transactions Choose 10 a. C. Sutherland Research Inc. issues common shares to Christine Sutherland, who invests $27,000 to open the business. b. The company purchases, on account, office supplies costing $370. Sutherland Research Inc. pays cash of $15,000 to acquire a lot near the campus. The company intends to use the land as a building site for a business office. d. Sutherland Research Inc. performs services for clients and receives cash of $2,600. e. f. g- Sutherland Research Inc. pays $140 on the account payable from transaction (b). Christine Sutherland pays $1,500 in personal funds for a vacation. Sutherland Research Inc. pays cash expenses for office rent ($320) and utilities ($85). h. The business sells a small parcel of the land it purchased for its cost of $3,500. i. The business declares and pays a cash dividend of $1,000. Print Done X