Exercise 3-05 A tabular analysis of the transactions made during August 2022 by Sunland Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets = Liabilities + A/R + Supp. + Equip. = Accounts Payable + Common Stock + Cash + Stockholders' Equity Retained Earnings Revenues - Expenses - Dividends 1. $16,000 $5,030 $3,050 $580 i " ; i $5,700 $9,200 Serv. Rev. $16,000 -1,980 -580 3,500 -2,100 -2,500 -830 550 -2,800 -2,100 -$2,500 Rent Exp. -$830 8. -550 -2,800 -400 Sal. Exp. Util. Exp. 400 Prepare an Income statement for August. SUNLAND COMPANY Income Statement Prepare a retained earnings statement for August. (List items that increase retained earnings first.) SUNLAND COMPANY Retained Earnings Statement $ Prepare a classified balance sheet at August 31, 2022. (List current assets in order of liquidity.) SUNLAND COMPANY Balance Sheet Assets Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity $ $ Click if you would like to Show Work for this question: Open Show Work