Exercise $1-26$ Financial statements LO$8$

Natalie Gold is the owner of the marketing agency Vivid Voice. The company focuses on online consulting services, such as online marketing campaigns and blog services. The June transactions for Vivid Voice resulted in totals at June $30,2023,$ as shown in the following accounting equation format:

Assets $=$ Liabilities $+$ Equity

Cash $+$ Accounts Receivable $+$ Supplies $+$ Equipment $=$ Accounts Payable $+$ Natalie Gold, Capital Explanation of Equity Transaction

$$6,000+$ $$1,200+$ $$1,900+$ $$6,500=$ $$4,000+$ $$11,600$

During July, the following occurred:

Collected $$800$ from a credit customer.

Paid $$2,500$ for equipment purchased on account in June.

Did work for a client and collected cash; $$1,100.$

Paid a part$-$time consultant$$s wages; $$950.$

Paid the July rent; $$1,200.$

Paid the July utilities; $$600.$

Performed services for a customer on credit; $$1,600.$

Called an information technology consultant to fix the agency$$s photo editing software in August; it will cost $$350.$

$1.$ Prepare an income statement for July $2023.$

$2.$ Prepare an statement of changes in equity for July $2023.$

$3.$ Prepare an balance sheet for July $2023.$

Analysis Component:

Review Gold$$s balance sheet. How much of the assets are financed by Gold? How much of the assets are financed by debt? $($Do not round intermediate calculations.$)$