Fido Food Mart Unadjusted Trial Balance.

Please answer the questions and show work. Thank you!

Project #2: Vehicle Purchase Fido's Food Mart Unadjusted Trial Balance October 31,20xX Debits Credits Account Title 41,399 8,000 8,160 1,850 30,550 Cash Accounts reccivable Inventory Supplies Equipment Vehicle Accumulated depreciation - Equipment and vehicle Accounts payable Bonds payable (mature 12/31/Xx) Common stock (200 shares@ $210/share, par $210) Retained earnings Sales revenue Operating expenses Rent expense Wages expense Totals 7,286 12,000 42,000 0 55,625 18,452 2,300 6,200 116,911 116911 The unadjusted trial balance at the end of Fido Food Mart's second month of operations is 1. A vehicle was purchased for $12,250 cash on the last day of the month, and it still needs to be recorded. a. Show the balancing effects on the accounting equation b. Record the journal entry in two-line format using a debit and a credit. c. Show T-accounts with beginning balance, transaction and end balance. 2. Prepare an updated unadjusted trial balance that reflects the vehicle purchase. 3. Using the updated trial balance prepared in step 2, prepare the following a. Single-step income statement b. Statement of retained earnings c. Classified balance sheet