Jason, Jeffrey, and Kenneth Dulow began professional practice as consulting firm on August 1. The firm was called Wolud Consulting. The partnership will corporate with investments from Ken 250,000, Jason 125,000 and Jeffrey 125,000. During August, the partnership completed the following transactions and agree to share profit at a ratio of K-3 JA-1 JE-1: August 1. Owners invested in total 500,000 as described above August 2. Paid. 15,000 cash for the rent of office space for the month August 4. Purchased equipment for 12,000 on account (due within 30 days) August 8. Completed a work for a client and immediately collected the 32,000 in cash for the fees August 10. Completed work for a client and sent a bill for 27,000 to be paid within 30 days. August 12. Purchased additional equipment for 8,000 in cash August 15. Paid an assistant 6,200 cash as wages for 15 days August 18. Collected 15,000 on the amount owed by the client. August 25. Paid 12,000 cash to settle the liability on the equipment purchased August 28. Purchased 500 dollars in supplies August 30. Completed work for another client who paid 40,000 for the system design August 31. Paid salary of assistant 700 August 31. Received utilities bills from Verizon, 1,800 and New Jersey Natural Gas bill 3,800 August 31st Equipment was depreciated for 300 dollars August 31st Supplies at month end were 150 dollars August 31st invests 504,600 cash into treasury bonds Prepare the journals and the income statement, owners' equity, and balance sheet in good form for August