On May 1, Shanky Shadow opened Shanky Repair Service, Inc. During the month of May the company complete

May 1	Smokey invested $18,000 of his own cash in the business in exchange for all shares of common stock.
May 1	Paid the rent for the store for the current month in cash - $425.
May 1	Paid the premium on a one-year insurance policy - $1,560.
May 2	Purchased repair equipment from ABC Company for $4,200. The terms were $600
	down and $300 per month for one year. The first $300 payment is due on June 1.
May 5	Purchased repair supplies from the Tidwell Company on credit - $492.
May 8	Paid cash for an advertisement in the local newspaper - $70.
May 15	Earned cash repair revenue of $1,750 during the first two weeks of business.
May 21	Paid Tidwell company on account - $225.
May 31	Earned and received cash for repair services during second half of May - $975.
May 31	Declared and paid a cash dividend of $400.

1) Determine the totals in each ledger account after adjustments are made
2) From the ledger worksheet
1)	Prepare a single step Income Statement for the month of May
2)	Prepare a Statement of Stockholders' Equity
3)	Prepare a Balance Sheet for the end of May.