Q3 ) A contractor has the following transactions during the current month : 1. The contractor Received two material invoices with retention the value of each invoice was $ 20,000 and 10 % retention from each invoice . 2. The contractor paid three material invoices , the value of each invoice was $ 5,000 . 3. The contractor paid the salary of his employees with a total amount of $ 10,000 . 4. The contractor paid the rent of his offices with total amount of $ 5,000 and a telephone hill of $ 100 . 5. The contractor sent an invoice to the owner with total amount of $ 20,000 and with retention of 10 % 6. The contractor receives retention payment after finishing one of his projects with total amount of $ 7,000 . 7. The contractor purchases a $ 150,000 truck with a $ 120,000 loan and a $ 30,000 cash down payment . 8. The contractor makes the second payment on excavator he bought with loan . The amount of the payment is $ 2.500 , which includes $ 1.500 in principal and $ 1,000 in interest . 9. The contractor rent excavator for $ 800 / month for 2 months . 10. The contractor rent 4 trucks for 20 years . The monthly payment for on truck is $ 10,000 and monthly amortization of $ 1,500. 11. The contractor paid the first payment of $ 2.500 for leasing a crane , of which $ 1,700 is used to reduce the capital lease payable and $ 800.00 is the Interest on the liability . 12. An excavator of $ 20,000 charge to Job 101 , cost code 02100 Grading and Excavation . 13. The contractor sold a crane for $ 70,000 in cash . The crane was purchased for $ 130,000 and $ 63,000 of depreciation has been taken . 3.1 . Determine the change to Balance sheet , income statement , job cost ledger and Equipment Ledger . 3.2 . Determine the Balance sheet for the current month , in addition to the total gross profit , construction cost , equipment cost , and revenue . 3.3 . Is the contractor overbilling or underbilling for the current month .