Required information [The following Information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. December 1 Sanyu Sony transferred $68,000 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. December 2 The company paid $1,980 cash for the December rent. December 3 The company purchased $14,800 of electrical equipment by paying $6,600 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $900 cash. December 6 The company completed electrical work and immediately collected $1,700 cash for these services. December 8 The company purchased $2,960 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $7,000. December 18 The company purchased $480 of supplies on credit. December 20 The company paid $2,960 cash for the office equipment purchased on December 8. December 24 The company billed a client $800 for electrical work completed; the balance is due in 30 days. December 28 The company received $7,000 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,300 cash for this month. December 30 The company paid $530 cash for this month's utility bill. December 31 The company paid $920 cash in dividends to the owner (sole shareholder). Required: 1. Enter the amount of each transaction on Individual Items of the accounting equation. (Enter reductions to account balances with a minus sign.) Date December 1 December 2 Balance after December 1 and December 2 December 3 Assets Cash + Accounts Receivable + Supplies Office Equipment Electrical Equipment Liabilities Accounts Equity Common + Payable Stock Dividends + Revenues Expenses + = + + + + + + + = + + = + = + Balance after December 3 December 5 Balance after December 5 December 6 + + Balance after December 6 + - + December 8 + + Balance after December 8 + December 15 + Balance after December 15 + December 18 + Balance after December 18 + + December 20 + + + = + + + + + - + + = + + = + + = + + = + = + = + + = + + = + = + + Balance after December 20 + + = + December 24 + + - = + - Balance after December 24 + - + + = + + December 28 + + = + Balance after December 28 + - + + + December 29 + + = + + Balance after December 29 + = + December 30 + = + Balance after December 30 + = + December 31 + = + Balance after December 31 = Required Information [The following Information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. December 1 Sanyu Sony transferred $68,000 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. December 2 The company paid $1,900 cash for the December rent. December 3 The company purchased $14,800 of electrical equipment by paying $6,600 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $900 cash. December 6 The company completed electrical work and immediately collected $1,700 cash for these services. December 8 The company purchased $2,960 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $7,000. December 18 The company purchased $480 of supplies on credit. December 20 The company paid $2,960 cash for the office equipment purchased on December 8. December 24 The company billed a client $800 for electrical work completed; the balance is due in 30 days. December 28 The company received $7,000 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,300 cash for this month. December 30 The company paid $530 cash for this month's utility bill. December 31 The company paid $920 cash in dividends to the owner (sole shareholder). 2-a. Prepare the Income statement for the current month. 2-b. Prepare the statement of retained earnings for the current month. 2-c. Prepare the balance sheet as of the end of the month. 3. Prepare the statement of cash flows for the current month. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 2C Required 3 Prepare the income statement for the current month. SONY ELECTRIC Income Statement For Month Ended December 31 Revenues Total Revenues Expenses Total expenses < Required 2A Required 2B >