On August 1, 20Y9, Brooke Kline established Western Realty as a proprietorship. Brooke completed the following transactions during the month of August:

a. Opened a bank account with a deposit of $24,000 in the name of Western Realty.

b. Purchased supplies on account, $2,100.

c. Paid creditor on account, $1,200.

d. Earned sales commissions, receiving cash, $38,000.

e. Paid rent on office and equipment for the month, $2,400.

f. Withdrew cash for personal use, $3,700.

g. Paid automobile expenses for month, $3,200, and miscellaneous expenses, $1,700.

h. Paid office salaries, $4,100.

i. Determined that the cost of supplies on hand was $1,000; therefore, the cost of supplies used was $1,100. .

Indicate the effect of each transaction and the balances after each transaction using the following tabular headings: 2. a. Prepare an income statement for August. 2. b. Prepare a statement of owner's equity for August. 2. c. Prepare a balance sheet as of August 31.