On August 31, 2022, the Spirit Equipment Repair Corp.'s post-closing trial balance was as follows:

Account

Debit

Credit

Cash

$ 9,850.00

AR

$ 7,500.00

Supplies

$ 3,230.00

Equipment

$ 35,000.00

Accumulated Depreciation - Equipment

$ 3,500.00

AP

$ 7,030.00

Salaries Payable

$ 4,000.00

Unearned Revenue

$ 3,350.00

Common Shares

$ 21,200.00

Retained Earnings

Total

$ 55,580.00

$ 55,580.00

During September the following transactions were completed:

Sep. 4

Paid Employees $6,500 for salaries due, of which $4,000 was for August salaries payable and $2,500 for September

Sep. 6

Received $4,500 cash from customers in payment of accounts

Sep. 11

Received $9,250 cash for services performed in September

Sep. 12

Sold common shares for $12,500

Sep. 21

Paid Creditors $4,250 Accounts Payable due

Sep. 24

Paid September and October rent, $2,500 ($1,250 per month)

Sep. 25

Paid Salaries, $6,500

Sep. 26

Performed services on account, $1,500

Sep. 27

Received $1,700 from customers for services to be provided in the future

Sep. 28

Paid a cash dividend, $650

Sep. 28

Paid income tax for the month, $250

Required:

1

Prepare an Income Statement for the month of September

2

Prepare a statement of financial position at September 30