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Brittany is very creative and decided to start selling her special hand-made hats. She will sell the hats she makes at the local farmers' market. Her first month of business is August 2020. The following is a summary of operations for August 2020 for Brittany's Headwear: Brittany contributed $800 of cash into her business. She also borrowed 300 from her boyfriend. Brittany purchased $700 of hat materials from Materials Inc. She paid cash. . Brittany also was able to purchase a further S200 of materials on credit from Handy Crafts and will pay for this on September 15. Brittany paid S280 cash for rent for August for a table at the market. Brittany used $600 of the materials to make hats in August. Her product was a huge hit and she sold all of the hats. She charged S1000 for all the hats in total. All customers paid her cash except John Doe who took his hat but paid her $25 the next weekend (Sept 7). . Brittany met Sarah X. who loved her hats. She received a special order for ten hats. Sarah paid a $100 deposit for the hats. Brittany has not yet started this order Brittany paid cash for taxi fare of 90 during the month to pick up materials and deliver the hats to the market. Required: 1. Determine how much Brittany earned from her business by preparing her Income Statement (sales/revenue less expenses) for August 2020 2. How much Cash did Brittany have in her business account at the end of August? (Show all of your calculations.) 3. Prepare a Balance Sheet for Brittany's Headwear business at the end of the day, August 31, 2020 4. After reviewing the Financial Statements: Assign 11 - Fall 2021 a. Do you think Brittany's business is successful? Why or why not? b. Do you have any concerns about Brittany's business? Mention at least one concem and why c. Make one suggestion for Brittany to improve her business. 3:54 k Chapter 1 assignment.pdf Question 2 (60 marks) Brittany is very creative and decided to start selling her special hand-made hats. She will sell the hats she makes at the local farmers' market. Her first month of business is August 2020. The following is a summary of operations for August 2020 for Brittany's Headwear Brittany contributed $80) of cash into her business. She also bemowed 5300 from her boyfriend Brittany purchased $700 of hat materials from Materials inc. She paid cash Brittany also was able to purchase a further S200 of materials on credit from Handy Crafts and will pay for this on September 15, Brittany paid $280 cash for rent for August for a table at the market Brittany used 5600 of the materials to make hats in August. Het product was a huge hit and she sold all of the hats. She charged S1000 for all the hats in total All customers paid her cash except John Doe who took his hat but paid her 525 the next weekend (Sept 7) Brittany met Sarah X who loved her hats. She received a special order for ten hats. Sarah paid a $100 deposit for the huts. Brittany has not yet started this order . Brittany paid cash for taxi fare of 890 during the month to pick up materials and deliver the hats to the market. Required: Determine how much Brittany earned from her business by prepuring her Income Statement (sales revenue less expenses) for August 2020 2. How much Cash did Brittany have in her busines account at the end of August? (Show all of your calculations.) 3. Prepare a Balance Sheet for Brittany's Headwear business at the coad of the day. August 31, 2020 4. After reviewing the Financial Statements Al-Fall 2021 a. Do you think Brittany's business is successful? Why or why not? b. Do you have any concerns about Brittany's business Mention at least one concern and why c. Make one suggestion for Brittany to improve her business (Answer cach of the above by referencing the financial statements) you created.)