Lisa Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $13,000 cash in the business in exchange for common stock. 2. Purchased equipment for $6,500 cash. 3. Paid $520 cash for May office rent. 4. Paid $390 cash for supplies. 5. Incurred $325 of advertising costs in the Beacon News on account. 6. Performed repair services for customer for $6,110 cash. 7. Paid a $910 cash dividend. 8. Paid part-time employee salaries $1,300. 9. Paid utility bills $187. 10. Performed repair services worth $1,430 on account. 11. Collected cash of $146 for services billed in transaction (10). (a) Prepare a tabular analysis of the transactions. Include margin explanations for any changes in revenues or expenses. Revenue is called Service Revenue. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) LISA REPAIR INC. Assets = Liabilities + Stockholders' Equity Retained Earnings Cash + Accounts

Receivable + Supplies + Equipment = Accounts Payable + Common Stock + Revenues Expenses Dividends 1. $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount 2. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 3. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an account title 4. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 5. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an account title 6. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an account title 7. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an account title 8. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an account title 9. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an account title 10. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an account title 11. enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount $enter a total amount $enter a total amount $enter a total amount $enter a total amount $enter a total amount $enter a total amount $enter a total amount $enter a total amount $enter a total amount From an analysis of the Retained Earnings columns, compute the net income or net loss for May. Net select an option for May $enter net income or loss for May in dollars