Prepare journal entries for each transaction and identify the financial statement impact of each entry The financial statements are automatically generated based on the journal entries recorded. Jan. 1 Paul Brown, owner, invested $103,750 cash in the company in exchange for common stock Jan. 2 The company purchased office supplies for $1,350 cash. Jan. 3 The company purchased $12,050 of office equipment on credit Jan. 4 The company received $15,700 cash as fees for services provided to a customer Jan. 5 The company paid $12,050 cash to settle the payable for the office equipment purchased on January Jan. 6 The company billed a customer $2,800 as fees for services provided Jan. 7 The company paid $1,325 cash for the monthly rent Jan. 8 The company collected $1,200 cash as partial payment for the account receivable created on January Jan. 9 The company paid $10,100 cash in dividends to the owner (sole shareholder). Answer is not complete. St Retained Earnings Requirement General Trial Balance Balance Sheet FS Impact ournal The financial statements report the cumulative impact of all transactions recorded as of the financial statement date. Input the cumulative amount of a) Net Income (Loss), b) Total Assets, c) Total Liabilities, and d) Total Equity that would be reported on the financial statements immediately after each transaction is recorded. (Hint: You can check your work by selecting the date on the trial balance tab.) The first 2 transactions are completed for you! Show lessA Total Liabilities Net Income Total Assets Total Equity Balance sheet Balance sheet Where can you go to find each of your answers? sheet Jan. 1- Paul Brown, owner, invested S103,750 cash in the company Jan. 2 Th $1.350 cash. Jan. 3- The company purchased 512,050 of office equipment on credit. Jan. 4 The company received S15,700 cash as fees for services provided to a customer Jan. 5 The company paid $12,050 cash to settle the payable for the office equipment purchased on 0 S 103,750 0 103,750 103,750 12,050 in exchange for common e company purchased office supplies for 103,750 12,050 12,050 15,700 15,700 (12,050) (12,050) 3- Jan. 6 The company billed a customer S2,800 as fees for 2,800 2,800 services provided. Jan. 7- The company paid $1,325 cash for the (1,325) (1,325) rent Jan. 8 The company collected 51,200 cash as partial payment for the account receivable created on January 6 Jan. 9 The company paid $10,100 cash in dividends to the owner (sole shs (10,100) (10,100)