Kate's Kite Company (a corporation) sells and repairs kites from manufacturers around the world. Its stores are located in rented space in malls and shopping centers. During its first month of operations ended April 30, Kate's Kite Company completed eight transactions with the dollar effects indicated in the following schedule: (h) $ 3,960 Ending Balance DOLLAR EFFECT OF EACH OF THE EIGHT TRANSACTIONS (a) (b) (c) (d) (e) (f) (g) $ 82,000 $(15,400) $ (6,200) $ 9,820 $ (1,300) $ (2,480) 4,180 24,800 (7,000) 1,860 15,400 18,600 $1,480 Accounts Cash Accounts Receivable Inventory Prepaid Expenses Store Fixtures Accounts Payable Unearned Revenue Common Stock ($1 par value) Additional Paid-in Capital Sales Revenue Cost of Sales Wages Expense Rent Expense Utilities Expense 2,510 10,000 72,000 1,450 14,000 7,000 1,300 620 1,480 Required: 2. Compute the ending balance in each account and prepare an unadjusted classified income statement and a classified balance sheet for Kate's Kite Company on April 30. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Compute the ending balance in each account and prepare an unadjusted classified income statement for Kate's Kite Company on April 30. KATE'S KITE COMPANY Income Statement (unadjusted) For the Month Ended April 30 Total revenues Expenses: Total operating expenses Required: 2. Compute the ending balance in each account and prepare an unadjusted classified income statement and a classified balance sheet for Kate's Kite Company on April 30. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Compute the ending balance in each account and prepare an classified balance sheet for Kate's Kite Company on April 30. KATE'S KITE COMPANY Balance Sheet Assets Liabilities and Shareholders' Equity Current Assets: Current Liabilities: 0 Total current assets Long Term Assets: Total current liabilities Shareholders' Equity: Total shareholders' equity 0 Total Liabilities & Shareholders' Equity Total Assets