Fly High Travel Services, Inc, was incorporated on September 1, 2021. During the first month of operations, the following transactions occurred: 1. Stockholders invested $50,000 in cash in exchange for shares of common stock. 2. Paid $4,000 for September rent on office space. 3. Purchased office equipment on account, $3,000. 4. Provided services to clients for cash, $3,500. 5. Borrowed $2,000 cash from a bank on a note payable. 6. Incurred $1,000 advertising costs in Apple Daily, on account. 7. Provided services for client on account, $4,000. 8. Paid Monthly expenses: salaries $1,500; utilities $300; and telephone $100. 9. Paid Apple Daily amount due in cash (6). 10. Dividend $300 paid in cash. B. Fly High Travel Services, Inc, - 30 September 2020 1 Income Statement Revenues Expenses Total expense Net income 2 Retained earnings Statement Retained earnings, Add: net income Less: dividends Retained earnings, 3 Balance sheet Asset Total assets Liabilities and Stockholders' Equity Liabilities Total liabilities Stockholders' equity Total Stockholders' equity Total liabilities and stockholders' equity