ment W NWP Assessment Player UI Application C View Policies Current Attempt Question 12 of 13 2.57/7.7 E An analysis of transactions for Sunland Company, a certified public accounting firm, for the month of August is as follows. Assume that August is the company's first month of business. Assets Liabilities Stock Accounts Receivable Common Stock Cash Accounts Payable + + Supplies + Equipment Revenues Expl 1 +$14.950 +$14.950 2 - 1,000 +$4,500 +$3,500 3 -650 +$650 4 +4,000 $3,600 +$7,600 5 -1.000 - 1.000 6. -2,000 7 - 750 8. +400 -400 -3,800 10 +350 (1) Your answer is correct Prepare an income statement for August Sunland Company Income Statement For the Month Ended AU 31 20226 Question 12 of 13 = An analysis of transactions for Sunland Company, a certified public accounting firm, for the month of August is as follows. Assume that August is the company's first month of business. Liabilities Stockholders' Equity Retained Earnings Expenses Dividend Common Stock lies Accounts Payable + + Equipment + Revenues +$14.950 $4,500 +$3,500 550 +$7,600 Service Revenue - 1,000 -$2,000 - $750 Rent Expense -3,800 Salaries/Wages Expense Utilities Expense +350 -350 (21) Question 12 of 13 2.57 /7.7 E (2) Prepare an retained earnings statement for August. (List items that increase retained earnings first.) Sunland Company Retained Earnings Statement e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit