Diana Garry started an interior design company called Interiors by Diana, Inc., on April 1, 2018. The following amounts summarize the financial position of her business on April 14, 2018, after the first two weeks of operations: (Click the icon to view the amounts.) During the remainder of April, the following events occurred: (Click the icon to view the transactions.) Read the requirements Requirement 1. Enter the remaining transactions for the month of April into the expanded accounting equation, calculating new balances after each transaction. (If a box is not used in the table, leave the box empty; do not enter a zero. Carry down all balances, including zero balance accounts. Enter decreases with a minus sign or parentheses. Abbreviations used: AR - Accounts receivable; Sup = Supplies; Equip Equipment; AP-Accounts payable; CS = Common stock; Rev = Revenue; Exp = Expense; Div = Dividends.) a. Garry received $8,000 as a gift and used it to buy common stock in the business. Assets = Liabilities + Stockholders' equity Cash + AR + Sup + Equip = AP + CS + Retained earnings Rev Exp - Div Bal 1,490 + 4,000 + 0 + 29,000 = 4,600 + 25,220 + 6,500 - 1,830 - 0 a. + + + + Bal b. Paid off the beginning balance of Accounts payable. + + Assets = Liabilities + Stockholders' equity Cash + AR + Sup + Equip = AP CS + Retained earnings Rev Exp Div b. + + Bal c. Performed services for a client and received cash of $3,500. Assets = Liabilities + Stockholders' equity Cash + AR + Sup + Equip = AP + CS + Retained earnings Rev Exp- Div C. + + + = + + + = + Bal d. Collected cash from a customer on account, $1,150. d. Bal Cash + Assets = Liabilities + Stockholders' equity AR Sup + Equip = AP + CS + Retained earnings Rev Exp Div + = + e. Purchased supplies on account, $800. Cash Assets + AR + Sup + Equip e. + Bal = Liabilities + Stockholders' equity AP + CS + Retained earnings Rev - Exp - Div + f. Consulted on the interior design of a major office building and billed the client for services performed, $9,000. Bal Assets = Liabilities + Stockholders' equity Cash AR + Sup + Equip = AP + CS Retained earnings Rev - Exp Div f. + Rev - Exp g. + + + = + + Bal + + + + + h. Incurred and paid salaries of $2,400. Assets = Liabilities + Cash + AR + Sup + Equip = AP + CS + - Stockholders' equity Retained earnings Rev h. + + + = + + Bal i. Sold supplies at cost to another interior designer for $230 cash. Exp Div Div Assets = Liabilities + Stockholders' equity Cash + AR + Sup + Equip = AP + CS + Retained earnings Rev -Exp - Div i. + + + = + + + + Bal j. Paid dividends of $1,200 to the stockholders of Interiors by Diana, Inc. Bal Assets = Liabilities + Stockholders' equity Cash + AR + Sup + Equip AP + CS + Retained earnings Rev - Exp - Div + + + + + + Requirement 2. Prepare the income statement of Interiors by Diana, Inc., for the month ended April 30, 2018. (If a box is not used in the income statement leave the box empty; do not enter a zero.) Start with the heading and then complete the rest of the statement. Revenue: Expenses: Total expenses Net income Requirement 3. Prepare the statement of retained earnings of Interiors by Diana, Inc., for the month ended April 30, 2018. (Enter an amount for each account, including any zero-balances.) Start with the heading and then complete the rest of the statement. Review the ending balances of the accounts from Requirement 1. Add: Subtotal Less: Requirement 4. Prepare the balance sheet of Interiors by Diana, Inc., at April 30, 2018. Start with the heading, then complete the asset portion of the statement, and finally, complete the liabilities and stockholders' equity sections of the statement. (If a box is not used in the balance sheet leave the box empty; do not enter a zero.) Review the ending balances of the accounts from Requirement 1. Total assets Assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Requirements 1. Enter the remaining transactions for the month of April into the expanded accounting equation, calculating new balances after each transaction. 2. Prepare the income statement of Interiors by Diana, Inc., for the month ended April 30, 2018. 3. Prepare the statement of retained earnings of Interiors by Diana, Inc., for the month ended April 30, 2018. 4. Prepare the balance sheet of Interiors by Diana, Inc., at April 30, 2018. Print Done - Data table Assets Liabilities Stockholders' equity Accounts Accounts Common Cash + receivable + Supplies + Equipment payable + stock + Retained earnings Service revenue Salaries expense Dividends $1,490 + $ 4,000 + 0 +$29,000 $4,600 + $25,220 + $ 6,500 $1,830 0 Print Done