I also need to prepare a statement of shareholders' equity, balance sheet, and statement of cash flows.

Assume that Blue Enterprises, which is in its first year of operations (i.e., 2017 with a December 31 year end) entered into the following transactions. Shareholders contributed $10,500 cash 1. 2. Performed services for $7,300, receiving $5,300 in cash and a $2,000 accounts receivable. Incurred expenses of $5,600. Paid $2,700 in cash and $2,900 is still owed 3 Purchased land for $11,700. Paid $2,100 in cash and signed a long-term note for the remainder. 4 5. Paid the shareholders $500 in the form of a dividend. Sold one-half of the land purchased in (4) for $6,750 cash 6 Show how the six transactions affect the accounting equation. Liabilities Shareholders' Equity Assets + 1. 2. A 3 4 5. 6. Total Prepare an income statement. (Enter negative answers using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Blue Enterprises Income Statement For the Year Ended December 31, 2017