Ever Description of Event 1 Performed dry cleaning services for $40,000 cash 2 On February 1, 2018, paid $20,000 cash to rent office space for the coming year 3 Adjusted the accounts for the amount of rent used during the year a) Complete the accounting equation for the different transactions. Donald and Friends Company Accounting Equation Assets Event 5 Cash + Prepaid Rent 6 $40,000 + 7 2 20.000 00 B + 19 Total S 40,000 $ 20,000 20 21 22 b) Prepare an income statement for 2018 23 Stockholders Equity Retained Earnings SS 40,000 20.000 S 60,000 +