Question 4 The Loctite Correctional Facility is a private enterprise prison that contracts services to midwestern state. Al October 1, the beginning of its fiscal year, the organization had the fol- lowing balance sheet Assets: Cash Supplies Equipment Building Accumulated depreciation Land Total LOC-Tite Correctional Facility Balance Sheet at October 1 Liabilities and Owners' Equity $ 43,725 Accounts payable 65,700 Bonds payable 350,000 Owners Investment 1,400,000 Retained earnings $ 28,350 450,000 1,050,000 883,575 (100,000) 652 500 $2.411.925 Total $2,411,025 During the month of October, a number of economic events occurred and were entered into the accounting system. At the end of October, the company prepared the following financial statements. Loc-Tito Correctional Facility Financial Statements Assets Cash Supplies Equipment Buliding Accumulated depreciation Land Total Balance Sheet (at Oct. 31) Liabilities and Owners' Equity $ 58,725 Accounts payable $ 28,350 28,200 Bonds payable 0 350,000 Owners' Investment 1,050,000 1,400,000 Retained earnings 1,302,450 Income Statement (for Oct.) Revenues $810,000 Expenses Supplies 37.500 Depreciation 8,625 Wagas 345.000 (108.625) 652,500 $2380.800 Total $2380.800 Not Income $418.875 Required A. Identify the transactions that occurred during October B. Prepare a schedule that explains the changes in cash balance during October