On August 1, 2018, Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August. A. Opened a business bank account with a deposit of $22,000 in exchange for common stock. B. Purchased office supplies on account, $1,900. C. Paid creditor on account, $1,400. D. Earned sales commissions, receiving cash, $41,000. E. Paid rent on office and equipment for the month, $2,600. F. Paid dividends, $3,400. G. Paid automobile expenses (including rental charge) for month, $3,150, and miscellaneous expenses, $1,700. H. Paid office salaries, $4,300. I. Determined that the cost of supplies on hand was $800; therefore, the cost of supplies used was $1,100. 2. c. Prepare a balance sheet as of August 31. Refer to the list of Labels, Accounts and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Western Realty Balance Sheet (Label) 1 Assets 2 3 4 5 Liabilities 6 7 Stockholders' Equity 8 9 10 1. Indicate the effect of each transaction and the balances after each transaction, using the tabular headings in the exhibit below. In each transaction row (rows indicated by a letter), you required and will be cleared if entered. Assets = Liabilities + Accounts Common Cash + Supplies = Payable + Stock - Dividends + C a. b. Bal. C. Bal. d. Bal. e. Bal. f. Bal. g. Bal. Expenses For the Month Ended August 31, 2018 August 31, 2018 Accounts Accounts payable Auto expense Cash Common stock Dividends Miscellaneous expense Rent expense Retained earnings Salaries expense Sales commissions Supplies Supplies expense Amount Descriptions Change in retained earnings Net income Net loss Retained earnings. August 1. 2018