I need assistance with b. and c. with the given values.

Chapter 2 Basic Financial Statements Aug 3 Equipment was purchased at a cost of $7.200 to be paid within 10 days. Supplies were purchased for $1.250 cash from a restaurant supply center that was going out of busi ness. These supplies would have cost $1,890 if purchased through normal channels Instructions a. Prepare a balance sheet at August 1, 2011. b. Prepare a balance sheet at August 3, 2011, and a statement of cash flows for August 1-3. Clas- sify the payment of accounts payable and the purchase of supplies as operating activities, Assume the notes payable do not come due for several years. Is The Oven Bakery in a stron ger financial position on August I or on August 3? Explain briefly. b. A . MED C assets in any order.) Include a proper heading for your balance sheet. Assume that on September 30, immediately after this balance sheet was prepared, a tornado completely destroyed one of the barns. This barn had a cost of $13,700 and was not insured against this type of disaster. Explain what changes would be required in your September 30 balance sheet to reflect the loss of this barn. The balance sheet items for The Oven Bakery (arranged in alphabetical order) were as follows at August 1, 2011. (You are to compute the missing figure for Retained Earnings.) LOS PROBLEM 2.7A Preparing a Balance L04 Sheet and Statement of Cash Flows; Effects of Business LOG Transactions Accounts Payable........... Accounts Receivable Building Capital Stock ............... Cash.. $16,200 11,260 84,000 80,000 6,940 Equipment and Fixtures ...... Land Notes Payable ....... Salaries Payable Supplies ........ $44,500 67,000 74,900 8,900 7,000 During the next two days, the following transactions occurred: Aug. 2 Additional capital stock was sold for $25,000. The accounts payable were paid in full. (No payment was made on the notes payable or salaries payable.)