On June $1$ of the current year, Chris Bates established a business to manage rental property. The following transactions were completed during June:

a$.$ Opened a business bank account with a deposit of $$75,000$ in exchange for common stock.

b$.$ Purchased office supplies on account, $$2,200.$

c$.$ Received cash from fees earned for managing rental property, $$19,500.$

d$.$ Paid rent on office and equipment for the month, $$8,000.$

e$.$ Paid creditor's on account, $$1,850.$

f$.$ Billed customers for fees earned for managing rental property, $$6,000.$

$9.$ Paid automobile expenses for month, $$1,500,$ and miscellaneous expenses, $$800.$

h$.$ Paid office salaries, $$5,500.$

Determined that the cost of supplies on hand was $$550$; therefore, the cost of supplies used was $$1,650.$

j$.$ Paid dividends, $$4,000.$

Required:

Indicate the effect of each transaction and the balances after each transaction:

If an amount box does not require an entry, leave it blank.

For those boxes in which yow must enter subtractive or negative numbers use a minus sign. $($Example: $-300)$

$3.$ Determine the net income for June.

s$.$

$4.$ How much did June's transactions increase or decrease stockholders' equity?

by $