Prepare the following financial statements using the information provided:

Accounting Equation Chart: Accounting Equation

Balance Sheet: Balance Sheet $G$

Income Statement: Income Statement $B$

Statement of Cash Flows: Cash Flow Statement $3$

Starting Balances: Cash $$2,500$; Supplies $$200$; Prepaid Insurance $$100$; Accounts Payable $$1,300$; Capital stock $$1,500$

Transactions:

Paid cash for rent, $$500.$

Received cash from the owner as an investment, $$700.$

Paid cash for telephone bill, $$75.$

Received cash from sales, $$1,050.$

Bought supplies on account from Paws and Claws, $$275.$

Sold services on account to Dr$.$ Shephard, $$285.$

Paid cash for advertising, $$450.$

Paid cash for supplies, $$185.$

Received cash on account from Dr$.$ Shephard, $$150.$

Paid cash on account to Paws and Claws, $$200.$

Paid cash for insurance, $$100.$

Received cash from sales, $$475.$

The owner withdrew cash for personal use, $$800.$