Exercise 3-5 A tabular analysis of the transactions made during August 2017 by Blossom Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained Assets Liabilities Stockholders Equity Cash A/R Supp. Iquie Accounts Paable Common Stock Retained Earnings ) $15,000 (2) -1900 C3) 550 4) 3,100 $5,400 (5) 1,500 (6) 1,000 15,000 Com. Stock $4 $3,000 550 $8.500 Serv Rev 1,500 $1,000 Di -700 -$700 Rent Exp 350 -350 (9)-2,000 2,000 -200 Sal.Exp Util Exp (10) 200 Prepare an income statement for August