Directions: Answer each of the five questions below and include the page number from the etext that supports your answer. If you do not include a correct page number from the etext to support your answer, you will not: recelve points for a correct answer. 1. Describe the transaction that occurred on line 3. (For Example, the description of the transaction on line 1 is as follows: The company received $31,000 cash from the owner in exchange for issuing common stock to the owner.) Textbook page to support your answer 2. How much Net income did the company make this month? Show your calculation. Textbook page to support your answer. 3. The Labilities column would be used to complete which financial statement? Textbook page to support your answer 4. Which transactions would be reported as "financing" on the cash flow statement? (include only the number 1,2,3,4,5,6,7, and/or 8 as the transaction lines are labeled with these numbers) Textbook page to support your answer 5. Assuming beginning retained earnings is zero, what is the ending balance in retained earnings? Show your calculation