F3.4 (101), AP A tabular analysis of the transactions made during August 2022 by Wolfe Company during its first month of operations is shown as follows. Each increase and decrease in stockholders' equity is explained. Analyze transactions and compute net income. Assets Liabilities + Accounts Payable + Equip. - Stockholders' Equity Common Retained Earnings Stock Rev. Exp. Div. +$20,000 + - Cash + A/R + Supp. 1. +$20,000 2. - 1,000 3 -750 $750 4 +4,100 +$5,400 +$5,000 +$4,000 +$9.500 Serv. Rev. -1.500 5 6. -1,500 -2,000 -800 7. -$2,000 Rent Exp. 800 8 -450 +450 -3,000 9. -3.000 Salar. Exp. Util Exp. 10. +300 -300 Instructions a. Describe each transaction. a. Describe each transaction. b. Determine how much stockholders' equity increased for the month. c. Compute the net income for the month. E3.5 (LO 2), AP The tabular analysis of transactions for Wolfe Company is presented in E3.4. Prepare an income statement, retained earnings statement, and balance sheet. Instructions Prepare an income statement and a retained earnings statement for August and a classified balance sheet at August 31, 2022