In June 2013, Wendy Winger organized a corporation to provide aerial photography services. The company, called Aerial Views, began operations immediately. Transactions during the month of June were as follows:

June 1	The corporation issued 60,000 shares to Wendy Winger in exchange for $60,000 cash.
June 2	Purchased a plane from Utility Aircraft for $220,000. Made a $40,000 cash down payment and issued a note payable for the remaining balance.
June 4	Paid Woodrow Airport $2,500 to rent office and hangar space for the month.
June 15	Billed customers $8,320 for aerial photographs taken during the first half of June.
June 15	Paid $5,880 in salaries earned by employees during the first half of June.
June 18	Paid Hannigan's Hangar $1,890 for maintenance and repair services on the company plane.
June 25	Collected $4,910 of the amounts billed to customers on June 15.
June 30	Billed customers $16,450 for aerial photographs taken during the second half of the month.
June 30	Paid $6,000 in salaries earned by employees during the second half of the month.
June 30	Received a $2,510 bill from Peatree Petroleum for aircraft fuel purchased in June. The entire amount is due July 10.
June 30	Declared a $2,000 dividend payable on July 15.

The account titles used by Aerial Views are:

Cash	Retained Earnings
Accounts Receivable	Dividends
Aircraft	Aerial Photography Revenue
Notes Payable	Maintenance Expense
Accounts Payable	Fuel Expense
Dividends Payable	Salaries Expense
Share Capital	Rent Expense

a.

Analyze the effects that each of these transactions will have on the following six components of the company's financial statements for the month of June. Organize your answer in tabular form, using the column headings shown. Use I for increase, D for decrease, and NE for no effect. The June 1 transaction is provided for you:

	Income Statement						Statement of Financial Position
Transaction	Revenue		Expenses	=	Profit		Assets	=	Liabilities	+	Equity
June 1	NE		NE		NE		I		NE		I
June 2	(Click to select)NEDI		(Click to select)NEID		(Click to select)DINE		(Click to select)NEDI		(Click to select)IDNE		(Click to select)NEDI
June 4	(Click to select)DINE		(Click to select)NEID		(Click to select)INED		(Click to select)INED		(Click to select)DINE		(Click to select)DINE
June 15	(Click to select)DINE		(Click to select)DNEI		(Click to select)NEID		(Click to select)INED		(Click to select)DNEI		(Click to select)DNEI
June 15	(Click to select)NEDI		(Click to select)INED		(Click to select)NEDI		(Click to select)NEDI		(Click to select)DNEI		(Click to select)DINE
June 18	(Click to select)INED		(Click to select)NEID		(Click to select)IDNE		(Click to select)IDNE		(Click to select)NEDI		(Click to select)NEDI
June 25	(Click to select)DNEI		(Click to select)IDNE		(Click to select)IDNE		(Click to select)INED		(Click to select)IDNE		(Click to select)NEID
June 30	(Click to select)NEDI		(Click to select)NEID		(Click to select)NEID		(Click to select)DINE		(Click to select)IDNE		(Click to select)INED
June 30	(Click to select)NEDI		(Click to select)NEID		(Click to select)INED		(Click to select)DINE		(Click to select)IDNE		(Click to select)NEID
June 30	(Click to select)NEID		(Click to select)IDNE		(Click to select)DINE		(Click to select)NEID		(Click to select)IDNE		(Click to select)NEDI
June 30	(Click to select)DINE		(Click to select)NEID		(Click to select)NEID		(Click to select)DINE		(Click to select)NEID		(Click to select)INED