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: Accounts Cash Accounts Receivable Inventory Store Fixtures Accounts Payable Prepaid Expenses TRANSACTIONS (e) (f) $ (1,140) (g) $(2,320) Ending (h) Balance $3,770 (a) DOLLAR EFFECT OF EACH OF THE EIGHT (b) (c) $64,900 $ (12,800) $ (5,700) 25,100 (d) $9,080 4,720 (6,510) 12,800 19,400 $1,460 Unearned Revenue Common Stock ($1 par value) Sales Revenue Additional Paid-in Capital Cost of Sales 9,735 55,165 Wages Expense Rent Expense Utilities Expense Required: 13,800 6,510 1,740 1,140 580 1,460 2,380 1,390 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. Required 2A Required 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 Sales revenue Total revenues Expenses: Cost of sales Wages expense Rent expense Utilities expense $ 0 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 Current Assets: Cash Accounts receivable Inventory Prepaid expenses Assets Liabilities and Shareholders' Equity Current Liabilities: Accounts payable Unearned revenue Total current assets 0 Total current liabilities 0 Long Term Assets: Store fixtures Shareholders' Equity: Common stock Additional paid-in-capital Retained earnings Total shareholders' equity 0 Total Assets $ 0 Total Liabilities & Shareholders' Equity $ 0 < Required 2A Required 2B >