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Requirements 1. 2. Analyze the effects of the preceding transactions on the accounting equation of Willis Computing, Inc. Prepare the income statement of Willis Computing, Inc., for the month ended October 31, 2018. List expenses in decreasing order by amount Prepare the entity's statement of retained earnings for the month ended October 31, 2018. Prepare the balance sheet of Willis Computing, Inc., at October 31, 2018. 3. 4. Transactions a. C. The company received cash of $3,500 and issued common stock. b. Performed services for a customer and received cash of $6,000. Paid $4,000 on accounts payable. d. Purchased supplies on account, $1,400. e. Collected cash from a customer on account, $2,000. f. Consulted on the design of a computer system and billed the customer for services rendered, $4,500. g. Recorded the following business expenses for the month: (1) paid office rent- $1,400; (2) paid advertising$650. (Record the cash amount as a total and identify and record any other amounts separately.) h. Declared and paid a cash dividend of $3,300. Assets Liabilities + Accounts Accounts Stockholders' Equity Common Retained Type of Equity Stock + Earnings Transaction 5,800 3,650 + Cash + Receivable + Supplies + Equipment 3,300 12,000 = Payable 7.900 Bal 2,050 (a) (b) (c) (d) (e) (9) (h) Ba! Total Requirement 2. Prepare the income statement of Willis Computing, Inc., for the month ended October 31, 2018 List expenses in decreasing order by amount. Select the labels and enter the amounts to complete the income statement. Remember to list expenses in decreasing order by amount Review the accounting equation completed in Requirement 1. Transactions Willis Computing, Inc. Income Statement The compan b. Performed se Month Ended October 31, 2018 Pald $4,000 Revenues d. Purchased Collected ca 1. Consulted on Expenses: rendered, $4 g. Recorded the $1,400; (2) and record h. Declared an C. e. Net income (loss) Requirement 3. Prepare the entity's statement of retained earnings the month ended October 31, 2018. Select the labels and enter the amounts to complete the statement of retained earnings. (Use parentheses or a minus sign for a not loss. Include a subtotal al Review the accounting equation completed in Requirement 1. Haas Computing, Inc. Statement of Retained Earnings Month Ended October 31, 2018 Add: Subtotal Less: Requirement 4. Prepare the balance sheet of Haas Computing, Inc., at October 31, 2018. Select the labels and enter the amounts to complete the balance sheet. (Do not classify the balance sheet into current and long-term sections. 1 a box is not used in the state Review the accounting equation completed in Requirement 1. Haas Computing, Inc. Balance Sheet October 31, 2018 Assets Llabilities Stockholders' Equity Total stockholders' equity Total assets Total liabilities and stockholders' equity Requirement 4. Prepare the balance sheet of Willis Computing, Inc., at October 31, 2018. Select the labels and enter the amounts to complete the balance sheet. (Do not classify the balance sheet into current and long-term se Review the accounting equation completed in Requirement 1. Willis Computing, Inc. Balance Sheet October 31, 2018 Assets Liabilities Stockholders' Equity Total stockholders' equity Total assets Total liabilities and stockholders' equity