Ex (2)-4 Transaction Analysis and Financial Statements Preparatydawno zvna IV SZ XIWIW NO LOHS Haibin Co. began its operations on January 1, 2016. During 2016 it had the following transactions, 1. The owners invested $10,000 in the business. 2. Provided services to customers for $6.000, cash. 77 Fundamental Accounting 3. Provided services to customers for $3.000, on account. 4. Borrowed $5.000 from the Local Bank. 5. Incurred $2,500 of cash expenses. 6. Incurred expenses of $1,500, on account. 7. Collected $2.000 cash from accounts receivables. 8. Paid $1.000 cash on accounts payables. 9. Made a $1.500 distribution to the owners. 10. Accrued $100 of interest (not yet paid) on the note payable issues in event (4). 11. Accrued $200 of accrued wages at the end of the year. (These have not been paid) Required 1. Explain how each of these transactions would affect Haibin's financial statements using the FSETs provided below. Use brackets, (), to indicate amounts being subtracted. Total each column. 2. Prepare Haibin's income statement, statement of changes in stockholders' Equity. balance sheet, and statement of cash flows for 2016 using the forms provided below. Forms for requirement 1 SCF Balance Sheet Income Statement Assets-Liabilities + Equity Revenues-Expenses Net Earnings Cash Flow 1 2 3 4 5 6 7 8 AL DUAL CAMERA 9 10 Total