P1.2 (LO 4, 5) Ai Fang Co. opened as a new computer services business on August 1, 2025. During August, the following transactions occurred. 1. Shareholders invested 20,000 cash in the business in exchange for ordinary shares. 2. Purchased equipment for 2,000, paying 1,000 in cash and the balance on account. 3. Paid V600 cash for August office rent. 4. Purchased 500 of supplies on account. 5. Recognized revenue of 7,500, of which V4,000 is collected in cash with the balance to be collected later. 6. Paid for the supplies purchased in transaction (4). 7. Declared and paid 700 dividend. 8. Incurred utility expenses for the month on account 270. 9. Paid salaries of 2,800 for August. 10. Received 2,000 from Standard Bank-money borrowed on a note payable. Instructions a. Prepare a tabular analysis of the August transactions. The column headings should be as follows: Cash + Accounts Receivable + Supplies + Equipment - Notes Payable Accounts Payable + Share Capital-Ordinary + Revenues - Expenses - Dividends. a. Total assets 26,400 b. Prepare an income statement and a retained earnings statement for August, and a statement of financial position at August 31, 2025, for Ai Fang Co. b. Net income V3,830 Ending retained earnings V3.130 Prepare income statement, retained earnings statement, and statement of financial position.