Comprehensive Problem Whitelands Consulting, Inc. began business on January 1, 2013. It sold $100 of stock to its investors on that day in exchange for cash. This American company lists and trades its stock on the New York Stock Exchange. During its first month of operations, Whitelands provided consulting services to two clients. On January 15, 2013, it earned $60 of revenue from its first client. The client paid cash on that date. Whitelands provided consulting services to a second client on January 30, 2013. The firm accepted the second client's promise to pay $30 in cash during February (creating an account receivable). Whitelands paid $75 in cash to cover its January operating expenses on January 31, 2013. 6. Present Whitelands January 2013 statement of shareholders' equity using the template below. 7. Present Whitelands' January 31, 2013 balance sheet using the template below. 8. Present Whitelands' January 2013 statement of cash flows using the template below. Whitelands Consulting, Inc. Statement of Shareholders' Equity For Month Ended January 31, 2013 Beginning contributed capital Sale of common stock Ending contributed capital Beginning retained earnings Net income Ending retained earnings Ending shareholders' equity Whitelands Consulting, Inc. Balance Sheet At January 31, 2013 Liabilities: Assets: Shareholders' Equity: Total assets Total liabilities and S/E Whitelands Consulting, Inc. Statement of Cash Flows For Month Ended January 31, 2013 Cash Flows from Operating Activities: Cash flows from Operating Activities: Cash Flows from Investing Activities: Cash Flows from Financing Activities: Net increase in cash RI E W 9 w