Obj. 4, 5 On August 1, 2018, Broolce Kline ertablished Western Reality. Brooke completed the following transactions during the month of August: A Opened a business bank account with a deposit of $35,000 in exchange for common stock. B. Purchased supplies on account, $2,750. C. Paid creditor on account, $1,800. D. Earned sales commissions, receiving cash, $52,800. E. Paid rent on office and equipment for the month, $4,500. F. Pald dividends, $3,000. G. Paid automoblle expenses for month, $1,100, and miscellaneous axpenses, $1,200. H. Paid oftice salaries, \$5,250. 1. Determined that the cost of supplies on hand was $1.750; therefore, the cost of supplies used was $1,000. Instructions 1. Indicate the effect of each transaction and the balances after each transaction, asing the following tabular headings: 2. Prepare an income statement for August, a retained earnings statement for August, and a balance sheet as of August 31