GLO202 (Algo) - Based on Exercise 2-13 Prepare journal entries for each transaction and identify the financial statement impact of each entry The financial statements are automatically generated based on the journal entries recorded. January 1 M. Duerr, owner, invested $175,75e cash in the company in exchange for common stock. January 2 The company purchased supplies for $3,750 cash. January 3 The company purchased $12,050 of equipment on credit. January 4 The company received $20,500 cash for services provided to a customer January 5 The company paid $12,050 cash to settle the payable for the equipment purchased on January 3. January 6 The company billed a customer 55,200 for services provided. January ? The company paid $3,725 cash for the monthly rent. January 8 The company collected $3,000 cash as partial payment for the account receivable created on January 6. January 9 The company paid $13,900 cash in dividends to the owner (sole shareholder). Requirement General General Income Journal Trial Balance St Retained Ledger Statement Earnings Balance Sheet FS Impact The financial statements report the cumulative impact of all transactions recorded as of the financial statement date. Input the cumulative amount of a) Net Income (Loss), b) Total Assets, c) Total Liabilities, and d) Total Equity that would be reported on the financial statements immediately after each transaction is recorded. (Hint: You can check your work by selecting the date on the trial balance tab.) The first 2 transactions are completed for you! Show less Transaction Net Income Total Assets Total Liabilities Total Equity 0 0 Where can you go to find each of your answers? Income statement Balance sheet Balance sheet Balance sheet January 1 - M. Duerr, owner, invested $175,750 cash in $ 0 $ 175,750 $ 0 $ 175,750 the company in exchange for common stock. January 2 - The company purchased supplies for 0 $3,750 cash 175,750 175,750 January 3 - The company purchased $12,050 of 12,050 equipment on credit January 4 - The company received $20,500 cash for 20,500 services provided to a customer January 5 - The company paid $12,050 cash to settle 20,500 the payable for the equipment purchased on January 3 January 6 - The company billed a customer 55,200 for services provided Jan 7 - The company paid $3,725 cash for the monthly January 8 - The company collected $3,000 cash as partial payment for the account receivable created on 0 0 January 6 January 9 - The company paid $13,900 cash in 0 dividends to the owner (sole shareholder) 0 rent