d in E3-8. Assume that transactions and P3-3 Nona Curry started her own consulting firm, Curry Consulting Inc., on May 1, 2017. The following transactions occurred during the month of May. Analyze prepare finascial statements ugust (LO 2), AP Stockholders invested $15,000 cash in the business in exchange for com- mon stock Paid $600 for office rent for the month Purchased $500 of supplies on account. Paid $150 to advertise for the month in the County News. Received $1,400 cash for services performed. Paid $200 cash dividend. Performed $4,200 of services on account Paid $2,500 for employee salaries. Paid for the supplies purchased on account on May3 Received a cash payment of $1,200 for services performed on account on May 15 Borrowed $5,000 from the bank on a note payable. Purchased office equipment for $2,000 paying $200 in cash and the balance on account. Paid $180 for utilities. May 1 ment for August and a balance 2 3 5 9 12 15 17 20 23 ergraduate degree in sci- any Saira tells you that the ncing which are needed in w bealthcare product. Saira 26 29 a report to present to 30 e the detailed scientific said, "I know that the new products, but if we success this is going to bel me set of accounting prin they need to realize is that e most talented employees ips. We haven't made any he clinical testing and gel $18,270 Instructions (a) Show the effects of the previous transactions on the accounting equation using the (a) Cash following format. Include margin explanations for any changes in revenues or Total assets $23,770 expenses. Assume the note payable is to be repaid within the year. iabilities Stockholders' Equity Retained Earnin Notes Accounts Common quite happy that they Date Cash + Receivable Supplies Esuipment Payable Payable+StockRevenues-Expennes Diridends (b) Net income $2,170 (b) Prepare an income statement and a retained earnings statement for the month of May ant by generally accepted 2017 (c) Prepare a classified balance sheet at May 31, 2017