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On August 1, 20Y9, Brooke Kine established Westom Plealty. Brooke completed the following transactions during the month of August. a. Opened a busiress bank account with a deposit of $22,000 in exchange for common stock. b. Purchased oftice supples on account, $1,900 c. Paid creditor on account, $1,400 d. Earned kales commissions, receiving cash, $41,000 e. Paid rent on office and equipment foe the month, $2.600. 1. Paid dividends, $3,400. 9. Paid autornobile expenses for month, $3,150, and miscellaneous expenses, $1,700. h. Paid office salaries, \$4,300. 1. Dotemined that the cost of supplies on hand was $800, theretore, the cost of supplies used was $1,100 Required: 1. Indicate the effect of each fransaction and the balances after each fransacbion, using the following tabular headings: Transactions; financial statements \begin{tabular}{|l|l|l|l|} \hline Instructions & Accounts, Labels and Amount Descriptions \\ \hline \end{tabular} Income Statement Income Statement 2. a. Prepare an income statement for August. Income Statement instructions Western Realty Income Statement For the Month Ended August 31, 20 Y9 \begin{tabular}{|l|l|} \hline 1 & \\ \hline 2 & (Label) \\ \hline \end{tabular} s 4 3 6 7 I 9 Check My Work Transactions; financial otatements Acoointing Equation Grid Acosintine Eavaton Grid hastructions Creak Wy Wok Previous Transactions; financial statements Instrucbons Accounts, Labels and Amount Desoriptions Accounting Equation Grid Accounting Equation Grid Asoots "Llabilities+ Accounts Common =Payable + Stock -Dividends Cash + Supplies - 3 Bal. c. Bal. d. Ba. - Bai. Bal. Bal. Previous === 2.b. Prepare a statement of stockholders' equity for August. Statement of Stockholders' Equily instructions Transactions; financial statements Instructions Accounts, Labels and Amount Descriptions Accounting Equation G: Accounts, Labels and Amount Descriptions Retained earnings Salaries expense Sales commissions Supplies Supplies expense Labels August 31,20Y9 Expenses For the Month Ended August 31, 20Y9 Amount Descriptions Balances, August 1, 20Yg Balances, August 31, 20 Y9 Issued common stock Net income Net loss Total assets Total expenses Total liabilities and stockholders' equity Total stockholders' equity Check My Work Instructions Accounts, Labels and Amount Descriptions Accounts, Labels and Amount Descriptions Accounting Equation Grid Balance Sheet Statement of Stockholders' Equity 2. c. Prepare a balance sheet as of August 31. Balance Sheet Instructions Western Realty Balance Sheet (Label) Income Sthtoment nstructions b. Purchasod oftice supplios on account, $1,900. c. Paid creditor on acoount, $1,400. d. Eamed sales commissions, receiving cash, $41,000 e. Pad rent on office and equipment for the month, $2,600. 1. Pard dividends, $3,400. 9. Pad autornobile expenses for menth, $3,150, and miscellaneous expenses, $1,700. h. Pad office salaries, $4,300 1. Deternined that the cost of supplies on hand was $800, therelore, the cost of supplies used was $1,100. Aequired: 1. Indicate the effect of each transaction and the balances afler each fransacton, using the following tabular heading 2. a. Prepare an income statement for August. 2. b. Prepare at statement of stockholders' equity for August. 2. c. Prepare a balance sheet as of August 3t. Transactions; financial statements \begin{tabular}{|l|l|l|} \hline Instructions & Accounts, Labols and Amount Descriptions & Accounting Equation Grid \\ \hline \end{tabular} Acoounting Equation Grid Transactions; financial statements Instructions Accounts, Labols and Amount Descriptions Accounting Equation Grid incom Accounts, Labels and Amount Descriptions Accounts Accounts payable Automobile expense Cash Common stock Dividends Miscellaneous expense Rent expense Retained earnings Salaries expense Sales commissions Supplies Supplies expense Labels August 31, 20Yg Expenses For the Month Ended August 31, 20Y9 Amount Descriptions Balances, August 1, 20 Y9 Balances, August 31, 20Y9