Problem 1-9A (Algo) Analyzing transactions and preparing financial statements LO P1, P2

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[The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December.

This is homework practice for college from the book Financial Accounting information for decisions 10 edition John J. Wild

I have to input the information into an income statement, Statement of retained earnings, balance sheet, and statement of cash flows

I am having trouble finding some of the inputs for the tables and have to add certain things to get a figure and I am unsure of what to add?

Dec.		1		Sanyu Sony transferred $68,900 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock.
		2		The company paid $1,600 cash for the December rent.
		3		The company purchased $13,900 of electrical equipment by paying $5,700 cash and agreeing to pay the $8,200 balance in 30 days.
		5		The company purchased supplies by paying $900 cash.
		6		The company completed electrical work and immediately collected $1,100 cash for these services.
		8		The company purchased $2,710 of office equipment on credit.
		15		The company completed electrical work on credit in the amount of $6,500.
		18		The company purchased $370 of supplies on credit.
		20		The company paid $2,710 cash for the office equipment purchased on December 8.
		24		The company billed a client $800 for electrical work completed; the balance is due in 30 days.
		28		The company received $6,500 cash for the work completed on December 15.
		29		The company paid the assistants salary of $1,600 cash for this month.
		30		The company paid $560 cash for this months utility bill.
		31		The company paid $960 cash in dividends to the owner (sole shareholder). I

Prepare the income statement for the current month. SONY ELECTRIC Income Statement For Month Ended December 31 Revenues Total Revenues 0 Expenses Rent expense Salaries expense Utilities expense (1,600) (1,600) (560) Total expenses (3,760) (3,760) Net income $ 2-c. Prepare the balance sheet as of the end of the month. 3. Prepare the statement of cash flows for the current month. Complete this question by entering your answers in the Required 2A Required 2B Required 2C Required 3 Prepare the statement of retained earnings for the current mon SONY ELECTRIC Statement of Retained Earnings For Month Ended December 31 Retained earnings, December 1 $ 0 4,640 Retained earnings, December 31 $ 4,640 2-c. Prepare the balance sheet as of the end of the month. 3. Prepare the statement of cash flows for the current month. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 2C Required 3 Prepare the balance sheet as of the end of the month. SONY ELECTRIC Balance Sheet December 31 Assets Liabilities Equity 0 Total equity 0 Total liabilities and equity Total assets 6 $ 0 2-c. Prepare the balance sheet as of the end of the month. 3. Prepare the statement of cash flows for the current month. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 20 Required 3 Prepare the statement of cash flows for the current month. (Cash outflows should be ir SONY ELECTRIC Statement of Cash Flows For Month Ended December 31 Cash flows from operating activities $ 0 Cash flows from investing activities