Instructions On August 1, 20Y9, Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August: a. Opened a business bank account with a deposit of $35,000 in exchange for common stock. b. Purchased supplies on account, $2,750. c. Paid creditor on account, $1,800. d. Earned sales commissions, receiving cash, $52,800 e. Paid rent on office and equipment for the month, $4,500. f. Paid dividends, $3,000. g. Paid automobile expenses for month, $1,100, and miscellaneous expenses, $1,200. h. Paid office salaries, $5,250. i. Determined that the cost of supplies on hand was $1,750; therefore, the cost of supplies used was $1,000. Required: 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: Assets = Liabilities Stockholders' Equity Accounts Common Sales Salaries Rent Auto Supplies Miscellaneous Cash + Supplies = Payable Stock Dividends + Commissions Expense Expense - Expense - Expense Expense Required: 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: Assets = Liabilities + Stockholders' Equity Accounts Common Sales Salaries Rent Auto Supplies Miscellaneous Cash + Supplies = Payable + Stock Dividends + Commissions Expense Expense - Expense Expense Expense 2. a. Prepare an income statement for August. 2. b. Prepare a statement of stockholders' equity for August. 2. c. Prepare a balance sheet as of August 31