Prepare a statement of financial position at August 31. (List Assets in reverse order of liquidity.) CRANE, ATTORNEY AT LAW Statement of Financial Position Assets 7 Equity and Liabilities 7 7 Prepare an income statement for August. CRANE, ATTORNEY AT LAW Income Statement 7 7 Prepare an retained earnings statement for August. (List items that increase retained earnings statement first.) 1. Collected 1,300 of accounts receivable. 2. Paid 2,900 cash on accounts payable. 3. Recognized revenue of 8,700, of which 3,300 is collected in cash and the balance is due in September. 4. Purchased additional equipment for 2,100, paying 500 in cash and the balance on account. 5. Paid salaries 2,400, rent for August 1,000, and advertising expenses 450. 6. Declared and paid 1,100 dividend. 7. Received 1,600 from Standard Bank- money borrowed on a note payable. 8. Incurred utility expenses for month on account 180. 1. Collected 1,300 of accounts receivable. 2. Paid 2,900 cash on accounts payable. 3. Recognized revenue of 8,700, of which 3,300 is collected in cash and the balance is due in September. 4. Purchased additional equipment for 2,100, paying 500 in cash and the balance on account. 5. Paid salaries 2,400, rent for August 1,000, and advertising expenses 450. 6. Declared and paid 1,100 dividend. 7. Received 1,600 from Standard Bank-money borrowed on a note payable. 8. Incurred utility expenses for month on account 180