Required information Problem 1-9A (Algo) Analyzing transactions and preparing financial statements LO P1, P2 [The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. December 1 Sanyu Sony transferred $66,300 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. December 2 The company paid $1,500 cash for the December rent. December 3 The company purchased $14,300 of electrical equipment by paying $6,100 cash and agreeing to pay the $8,200 balance in 30 days.. December 5 The company purchased supplies by paying $800 cash. December 6 The company completed electrical work and immediately collected $1,800 cash for these services. December 8 The company purchased $2,930 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $5,700. December 18 The company purchased $470 of supplies on credit. December 20 The company paid $2,930 cash for the office equipment purchased on December 8. December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. December 28 The company received $5,700 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,300 cash for this month. December 30 The company paid $540 cash for this month's utility bill. December 31 The company paid $940 cash in dividends to the owner (sole shareholder). Problem 1-9A (Algo) Part 2 and 3 2-a. Prepare the income statement for the current month. 2-b. Prepare the statement of retained earnings for the current month. 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 income statement for the current month. SONY ELECTRIC Income Statement For Month Ended December 31 Revenues Total Revenues Expenses Total expenses Required 2A Required 2B > Problem 1-9A (Algo) Part 2 and 3 2-a. Prepare the income statement for the current month. 2-b. Prepare the statement of retained earnings for the current month. 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 statement of retained earnings for the current month. SONY ELECTRIC Statement of Retained Earnings For Month Ended December 31 Retained earnings, December 1 SA $ 0 Retained earnings, December 31 < Required 2A Required 2C > Problem 1-9A (Algo) Part 2 and 3 2-a. Prepare the income statement for the current month. 2-b. Prepare the statement of retained earnings for the current month. 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 Total assets Assets December 31 Liabilities Total liabilities Equity Total equity Total liabilities and equity < Required 2B Required 3 > Problem 1-9A (Algo) Part 2 and 3 2-a. Prepare the income statement for the current month. 2-b. Prepare the statement of retained earnings for the current month. 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 statement of cash flows for the current month. (Cash outflows should be indicated with a minus sign.) SONY ELECTRIC Statement of Cash Flows For Month Ended December 31 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Cash balance, December 1 Cash balance, December 311 0