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Nona Curry started her own consulting firm, Kingbird, Inc., on May 1, 2022. The following transactions occurred during the month of May May 1 2 3 5 9 12 15 17 20 23 26 29 30 Stockholders invested $17,925 cash in the business in exchange for common stock Paid $717 for office rent for the month. Purchased $598 of supplies on account. Paid $179 to advertise in the County News. Received $1,673 cash for services performed. Paid $239 cash dividend. Performed $5,019 of services on account. Paid $2,988 for employee salaries. Paid for the supplies purchased on account on May 3. Received a cash payment of $1,434 for services performed on account on May 15. Borrowed $5,975 from the bank on a note payable. Purchased office equipment for $2,390 paying $239 in cash and the balance on account. Paid $215 for utilities. (a) ASSETS LIABILITIES Date STOCKHOLDERS' EQUITY Retained Earnings Revenues Expenses Dividends Accounts Receivable Cash Notes Payable Identify RED Account Accounts Payable Supplies Equipment Common Stock 2017 May 1 2 3 5 9 12 15 17 20 23 26 29 30 Bal. Prepare an income statement for the month of May 2022. KINGBIRD, INC. Income Statement $ $ $ Prepare a classified balance sheet at May 31, 2022. (List current assets in order of liquidity) KINGBIRD, INC. Balance Sheet Assets $ $ $ Liabilities and Stockholders' Equity