Les Stanley established an insurance agency on July 1, 20Y5, and completed the following transactions during July: Opened a business bank account in the name of Stanley Insurance Inc., with a deposit of $51,500 in exchange for common stock. Borrowed $26,000 by issuing a note payable. Received cash from fees earned, $29,000. Paid rent on office and equipment for the month, $3,100. Paid automobile expense for the month, $1,900, and miscellaneous expense, $700. Paid office salaries, $3,900. Paid interest on the note payable, $100. Purchased land as a future building site, $58,500. Paid dividends, $4,500. Find the accounting equation (with separate income statement and cash flow statement), income statement for July, statement of stockholder equity for July, balance sheet as of as of July 31, 20Y5 and statement of cash flows for July.