On July 31, 2021, the general ledger of Ivanhoe Inc. showed these balances: Cash $4,400; Accounts Receivable $1,400; Supplies $700; Equipment \$4,800; Accounts Payable \$4,200; Common Shares $3,400; and Retained Earnings $3,700. During August, the following transactions occurred: Aug. 2 Collected $1,500 of accounts receivable due from customers. 3 Received $1,400 for issuing common shares to new investors. 6 Paid $2,500 on accounts payable owing. 7 Earned fees of $6,400, of which $2,500 was collected in cash and the remainder was due on account. 13 Purchased additional equipment for $1,300, paying $400 in cash and the balance on account. 17 Paid salaries, $3,900, rent, $700, and advertising expenses, $275, for the month of August. 17 Collected the balance of the fees earned on August 7. 20 Declared and paid $500 of dividends to shareholders. 22 Billed a client $1,000 for legal services provided. 24 Received $2,500 from Laurentian Bank; the money was borrowed on a bank loan payable that is due in six months. 27 Signed an engagement letter to provide legal services to a client in September for $4,500. 28 Received the utility bill for the month of August in the amount of $275; it is due September 15. 31 Paid income tax for the month, $500. Prenare an income statement as at August 31 Prepare a statement of changes in equity as at August 31. IIf an amount reduces the account balance then enter with negative sign preceding the number e.g. 45 or parentheses e.g. (45).) Prepare a statement of financial position as at August 31. (List Current Assets in order of liquidity.) IVANHOE INC. Statement of Financial Position Assets $ $ $ Liabilities and Shareholders' Equity $ Liabilities and Shareholders' Equity $ $