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B) (3 eBook The following ten transactions occurred during the July grand opening of the Pancake Palace. Assume all Retained Earnings transactions relate to the primary purpose of the business. A. Calculate the ending balance for each account. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Assets Liabilities Owner's Equity Accounts Payable Wages Payable Common Stock Retained Earnings Cash Inventory Equipment 1 $51,000 $51,000 2 (6,000) $6,000 3 $24,000 $24,000 4 1,250 $1,250 5 5 (750) 6 6 600 (750) (600) (3,500) 3,000 7 $3,500 B 3,000 9 225 (225) 10 (1,000) 1,000 Ending Balance s S B. Create the income statement. Use minus sign to indicate the loss. Pancake Palace Next Check My Work 3 minte Check My Work uses remaining eBook B. Create the income statement. Use minus sign to indicate the loss. Pancake Palace Income Statement For the Month Ended July 31 C. Create the statement of owner's equity. If an amount box requires a zero, enter "O". For those boxes in which you must enter subtractive or negative numbers use a minus sign. Pancake Palace Statement of Owner's Equity For the Month Ended July 31 Ending Balance D. Create the balance sheet. For those boxes in which you must enter subtractive or negative numbers use a minus sign Pancake Palace Balance Sheet July 31 Assets Ending Balance D. Create the balance sheet. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Pancake Palace Balance Sheet July 31 Assets: Total Assets Liabilities QUOI QUI DOLL Total Liabilities Owner's Equity: Total Owner's Equity Total Liabilities and Owner's Equity