clear solution please

8. An analysis of the transactions made by Cookie Mountain Legal & Co., a law firm, for the month of July is shown below. Each increase and decrease in owner's equity is explained. Accounts Accounts Owner's Equity Cash + Receivable + Supplies - Equipment = Pavable + Owner's Capital 1. +$15,000 +$15,000 Investment 2. 2,000 +$5,000 +$3,000 3. 750 +$750 4. + 2,500 $4,600 + 7,100 Service Revenue 5. 1,500 1,500 6. 2,500 2,500 Drawings 7. 750 750 Rent Expense 8. 550 550 9. 3,500 3,500 Salaries Expense 10. 500 500 Utilities Expense Instructions (a) Prepare an income statement for the month ending July 31, 2012. (b) Prepare an owner's equity statement for the month ending July 31, 2012. +