P3.4 Prepare a tabular analysis of the August transactions beginning with July 31 balances Bindy Crawford created a corporation providing legal services, Bindy Crawford Inc., on July 1, 2022. On July 31 the balance sheet showed Cash $4,000, Accounts Receivable $2,500, Supplies $500, Equipment $5,000, Accounts Payable $4,200, Common Stock $6,200, and Retained Earnings $1,600. During August, the following transactions occurred. Aug 1 Collected $1,100 of accounts receivable due from customers. 4 Paid $2,700 cash for accounts payable due. 9 Performed services worth $5,400, of which $3,600 is collected in cash and the balance is due in September. 15 Purchased additional office equipment for $4,000, paying $700 in cash and the balance on account. 19 Paid salaries $1,400, rent for August $700, and advertising expenses $350. 23 Paid a cash dividend of $700. 26 Borrowed $5,000 from American Federal Bank; the money was borrowed on a 4-month note payable. 31 Incurred utility expenses for the month on account $380. Stockholders' Equity Assets Accounts Receivable + Supplies $ 2,500 $ 500 Notes Payable BINDY CRAWFORD INC. Liabilities + Accounts + Payable $ 4,200 $ Date 7/31 $ Explanation Cash 4,000 Common Stock 6,200 Equipment $ 5,000 + + Retained Earnings $1,600 Expenses Revenues Dividends 8/1 4 9 15 19 23 26 31 Prepare an income statement for August, a retained earnings statement for August, and a classified balance sheet at August 31. BINDY CRAWFORD INC. Income Statement For the Month Ended August 31, 2022 BINDY CRAWFORD INC. Balance Sheet August 31, 2022 Assets 1 ll Revenues 4 Expenses 6 7 81 91 1| Net income Liabilities and Stockholders' Equity BINDY CRAWFORD INC. Retained Eamings Statement For the Month Ended August 31, 2022 Checking totals: Net income $2,570 Ret. earnings $3,470