Exercise #2 On August 31, the balance sheet of La Brava Veterinary Clinic included Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, and Kim, Capital $13,700.During September, the following transactions occurred: 1. Made a $2,900 cash payment on accounts payable. 2. Collected $1,300 cash on accounts receivable. 3. Purchased equipment for $2,100, paying $800 cash and the remainder on account. 4. Performed $7,300 of services for customersreceived $2,500 in cash and billed customers for the remainder. 5. Kim withdrew $400 cash for personal use. 6. Paid employees $1,700 in salaries for September. 7. Paid $900 rent for September. 8. Paid $200 of advertising costs for September. 2. Received but did not pay the September utility bill $170. 10. Borrowed $10,000 from Capital Bank, signing a promissory note payable. Instructions (a) Prepare a tabular analysis of the September transactions below. (6) Prepare an income statement and statement of retained earnings for the month of September, and a balance sheet for September 30. Assets Accounts Receivable + 1,700 + La Brava Veterinary Clinic Liabilities Accounts Notes Payable + Payable 3600 + Owner's Equity Kim, Drawing + Revenues - Expenses 0 + 0 - Cash + 9,000 + Supplies + 600 + Equipment = 6,000 = Kim, Capital 13,700 + 0+ - - Bal 1. . Bal 9,000 + 1,700 + 600 + 6,000 3,600 + 0 + 13,700 0+ 0 - Bal 9,000 + 1,700 + 600 + 6,000 = 3,600 + 0 + 13,700 - 0 + + 0 9,000 + 1,700 + 600 + 6,000 = 3,600 + + 13,700 + 3. Bal 4. Bal 0 9,000 + 1,700 + 600 + 6,000 = 3,600 + + 13,700 - 0 + 0 5. Bal 9,000 + 1,700 + 600 + 6,000 3,600 + + 13,700 O + + 6. Bal 9,000 + 1,700 + 600 + 6,000 = + 3,600 + 0 + 13,700 0 - + + 9,000 + 1,700 + 600 + 6,000 = 3,600 + + 13,700 Bal 8. + 9,000 + 1,700 + 600 + 6,000 = 3,600 + + 13,700 0 0 - + + Bal 9. Bal . 9,000 + 1,700 + 600 + 6,000 3,600 + 0 + 13,700 - 0 + 0 - + 10. Bal 9,000 + 1,700 + 600 + 6,000 = 3,600 + 0 + + 13,700 0 + Total Liabilities = 3,600 Total Owner's Equity = 13,700 La Brava Veterinary Clinic Income Statement For the Month Ending on September 30 Revenues: Expenses (list): Total Expenses Net Income La Brava Veterinary Clinic Statement of Owner's Equity For Month Ending on September 30 Beginning Capital. September 1 Plus: Net Income sub-total Less: Withdrawals Ending Capital, September 30 La Brava Veterinary Clinic Balance Sheet As of September 30 Liabilities (list) Assets (list) Total Liabilities Total Assets Owner's Equity Total Liabilities & Owner's Equity