Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for eact category. The rst transaction is provided as an illustration. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Leave no cells blank. Enter "0" wherever necessary. August 1, 2022 totals $ 740,000 $ 287,000 $ 453,000 August 3, borrowed $16,500 in cash from the bank New totals 16,500 16,500 0 $ 756,500 $ 303,500 $ 453,000 August 7, bought merchandise inventory valued at $17,500 on account New totals :32: $ 756,500 $ 303,500 $ 453,000 August 10, paid $6,000 cash for operating expenses New totals :32: $ 756,500 $ 303,500 $ 453,000 New totals August 14, received $55,000 in cash from sales of merchandise that had cost $36,300 I I I I I I $ 756,500 $ 303,500 $ 453,000 August 17, paid $11,000 owed on accounts payable New totals :32: $ 756,500 $ 303,500 $ 453,000 August 21, collected $19,500 of accounts receivable New totals :32: $ 756,500 $ 303,500 $ 453,000 New totals August 24, repaid $15,000 to the bank, plus $300 interest I I I I I I $ 756,500 $ 303,500 $ 453,000 August 29, paid Rudy Gandol a cash dividend of $4,000 New totals :32: $ 756,500 = $ 303,500 + $ 453,000 Show IessA Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August? Total revenues Total expenses Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Total assets Total liabilities Total stockholder's equity Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Which of the following statement(s) ls/are true? |:| Revenues decreased Rudy Gandol's equity, and expenses and dividends increased it. D Interest is a "cost" of doing business. D Dividend is a "cost" of doing business. |:| Cash balance will be affected while paying olT an accounts payable and collecting an accounts receivable. B When money is borrowed from the bank, the total assets and the total liabilities will increase