M3-17 (Algo) Preparing Accrual Basis Journal Entries and Reporting Financial Statements [LO 3-3] Andy's Autobody Shop has the following balances at the beginning of September: Cash, $11,800; Accounts Recelvable, $1,200; Equipment, \$38,200; Accounts Payable, \$2,300; Common Stock, \$20,000; and Retained Earnings, \$28,900. a. Signed a long-term note and received a $101,100 loan from a local bank. b. Billed a customer $2,400 for repair services just completed. Payment is expected in 45 days. c. Wrote a check for $770 of rent for the current month. d. Recelved $470 cash on account from a customer for work done last month. e. The company incurred $410 in advertising costs for the current month and is planning to pay these costs next month. Required: 1. Prepare journal entries for the above transactions, which occurred during a recent month. 2. Prepare an income statement. 3. Prepare a statement of retained earnings. 4. Prepare a classified balance sheet. Complete this question by entering your answers in the tabs below. Prepare an income statement