Ken Stanton launched a new business called Ken's Maintenance Co. that began operations on June 1, 2002. The following transactions were completed by the company during the first month: June 1 Stanton invested $175,000 in the business 2 Rented a furnished office and paid $7,500 cash for June's rent. 4 Purchased $3,000 worth of equipment from Skyline Office equipment paying $1,000 cash and the remaining balance being paid in 20 days. 6 Paid $1,300 cash to advertise the grand opening of the business. 9 Performed maintenance services for a customer and was immediately paid $1,000 in cash. 10 Performed $8,500 of maintenance services for PDQ Company on credit. 12 Paid $300 in cash to XYZ Bookkeeping Services for work performed during June. 20 Received $8,500 from PDQ Company for maintenance work done on June 10. 21 Performed maintenance services totalling $650. The customer paid cash immediately. 22 Performed $1,250 of maintenance services on credit for Johnson Realty. 23 Performed $8,500 of maintenance services on credit for the Alaska Mall. 24 Paid $2,000 balance due to Skyline for the equipment purchased on June 4. 30 Received $1,250 in cash for services performed for Johnson Realty on June 22. 30 Paid $250 cash for this month's telephone bill. 30 Paid $750 cash for utilities. 30 Paid $3,000 cash for dividends. Required : 1. Arrange the following asset, liability, and equity titles in a table like Illustrative problem p.24-26. (Cash; Accounts Receivable; Equipment; Accounts Payable; Common Stock; and Retained Earnings. Include an Explanation column for changes in equity) 2. Show the effects of the transactions on the accounts of the accounting equation by recording the increases/decreases in the appropriate columns. To each change in equity, state whether it was caused by an investment, a revenue, an expense, or a dividend. Determine the final total for each account and verify that the equation is in balance. 3. Prepare June unadjusted income statement, statement of retained earnings, balance sheet, and statement of cash flows. Preparedby:TienNguyenC. 1