December 15 FastForward pays $305 cash for December utilities expense. December 16 FastForward pays $700 cash in employee salary for work performed in the latter p Reviev the statement of retained eamings and indicate how the statement is linked to the other fi This problem is based on the transactions for the Fastforward Company in your text. Prepare joumal entrles for each transaction and Identily the financial statement impact of each entry. The financial statements are automatically generated based on the joumal entrles recorded. Taylor in exchange for cormon stock. Decenber 2 fastForward pays $2,5ee cash for supplies. The conpany's policy is to record all prepaid wxpensas in asset accoents. Decerber 3 Fastfonard pays $26, eee cash for equipent. Decenber 5 fastForward provides consulting services and inmediately coliects 54,26a cash. Deceeber 6 FastForward pays $1, ele eath for Decenber rent. Decenber 7 fastrorward pays 5700 cash for employee salary. Decesber \& fastforward provides consulting services of $1,60e and rents its test facilities for 5s ib. the castocer is billed 51, gee for these services. Deceber 9 Fastorward ruceivei $1,09e cash fros the client billed on Deciesber a. becentben 11 Fastforward pays 52 ea cash for dividends. coccrd feer collected in advance 20 a balance whest account. cotpany's policy is to record all prepald expenses in a palance sheet acceont. Decenber 14 fastifonard payi size casb for iupplites. decener 15 iastiorwand pays sjas cast for Decezber utilities expente. The financial statements ceport the cumulative impact of all transactions cecordes as of the financial ntotement date- input the