Please help with P2-68 - Recording Transactions in Journal Entries and T-Accounts using the information in P2-67.

P267. Analyzing Transactions Using the Financial Statement Effects Template and Preparing L01, Financial Statements Schrand Aerobics, Inc., rents studio space (including a sound system) and specializes in offering aerobics classes. On January 1,2015, its beginning account balances are as follows: Cash, $5,000; Accounts Receivable, $5,200; Equipment, $0; Notes Payable, $2,500; Accounts Payable, $1,000; Common Stock, $5,500; Retained Earnings, $1,200; Services Revenue, $0; Rent Expense, $0; Advertising Expense, S0; Wages Expense, S0; Utilities Expense, 50; Interest Expense, $0.The fol- lowing transactions occurred during January l. Paid $600 cash toward accounts payable 2. Paid $3,600 cash for January rent. 3. Billed clients $11,500 for January classes. 4. Received $500 invoice from supplier for T-shirts given to January class members as an adver- MBC tising promotion. 5. Collected $10,000 cash from clients previously billed for services rendered. 6. Paid $2,400 cash for employee wages. 7. Received $680 invoice for January utilities expense. 8. Paid $20 cash to bank as January interest on notes payable. 9. Declared and paid $900 cash dividend to stockholders 10. Paid $4,000 cash on January 31 to purchase sound equipment to replace the rental system REQUIRED Using the financial statement effects template, enter January 1 beginning amounts in the ap- propriate columns of the first row.(Hint: Beginning balances for columns can include amounts from more than one account.) a. er 2 Constructing Financial Statements b. p in part a. Total all columns and prove that (I) assets equal liabilities (2) revenues less expenses equal net income for January 2015 Report the effects for each of the separate transac or each of the separate transactions I through 10 in the financial staten plus equity at January 31, and (2) revenues Prepare its income statement for January 20 c. Prepare its statement of stockholders' equity for January Prepare its balance sheet at January 31, 201 e. Lo6 (P2-68.) Recording Transactions in Journal Entries and Treqrements. -Accounts Use the information in Problem REQUIRED a. Prepare journal entries for each of the transactions 1 through 10 2-6) to complete the following Set up acounts,including beginning balances,for cach of the accounts used in part a. Post the journal entries to those T-accounts