Part B please

Blossom Company was started on May 1. A summary of May transactions is presented as follows. 1. Stockholders invested $20,500 cash in the business in exchange for common stock. 2. Purchased equipment for $5,500 cash. 3. Paid $600 cash for May office rent. 4. Paid $600 cash for supplies. 5. Incurred $300 of advertising costs in the Beacon News on account. 6. Received $5,000 in cash from customers for repair service. 7. Declared and paid a $1,200 cash dividend. 8. Paid part-time employee salaries $1,100. 9. Paid utility bills $160. 10. Performed repair services worth $930 on account. 11. Collected cash of $120 for services billed in transaction (10). Prepare a tabular analysis of the transactions. Revenue is called Service Revenue. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Assets Accounts Cash Receivable Supplies Equipi 1. $ $ $ 2. 3. 4. Assets Liabilities + Stockholder's equity Retained earnings + Revenue expenses + + accounts receivable dividend + + + supplies + equipment = accounts payable + common stock $20,500 $5,500 + + cash $20,500 ($5,500) ($600) ($600) + + + + + + + + + Events 1 2 3 4 5 6 7 $600 + $600 + + + $300 + $300 $5,000 $5,000 ($1,200) ($1,100) ($160) $1,200 + + + + OOOOOOOOOOOOO $1,100 $160 8 9 10 11 Balance $930 + $120 $16,460 $930 ($120) $810 + + $600 + $5,500 $300 $20,500 + $5,930 $2,160 $1,200 Note: Figures in Red denotes negative figure Blossom Company Income Statement For the Year Ended May 31 $ to $