Required Information Problem 1-9A Analyzing transactions and preparing financial statements LO C4, P1, P2 [The following information applies to the questions displayed below.) Sanyu Sony started a new business and completed these transactions during December Dec. 1 Sanyu Sony transferred $69,800 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 rented office space and paid $1,100 cash for the December rent. 3 The company purchased $14,400 of electrical equipment by paying $6,200 cash and agreeing to pay the $8,200 balance in 30 days. 5 The company purchased office supplies by paying $700 cash. 6 The company completed electrical work and immediately collected $1,800 cash for these services. & The company purchased $2,980 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $6,900. 18 The company purchased $330 of office supplies on credit. 20 The company paid $2,980 cash for the office equipment purchased on December 8. 24 The company billed a client $1,000 for electrical work completed; the balance is due in 30 days. 28 The company received $6,900 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,400 cash for this month. 30 The company paid $560 cash for this month's utility bill. 31 The company paid $990 cash in dividends to the owner (solo shareholder). Problem 1-9A Part 2 and 3 2.1. Prepare an income statement for the current month. SONY ELECTRIC Income Statement For Month Ended December 31 Revenues Expenses Total expenses 2.2. Prepare a statement of retained earnings for the current month. SONY ELECTRIC Statement of Retained Earnings For Month Ended December 31 Retained earnings, December 1 $ 0 Retained earnings, December 31 ces 2.3. Prepare a balance sheet as of the end of the month. SONY ELECTRIC Balance Sheet December 31 + Assets Liabilities Equity Total equity Total liabilities and equity Total assets 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 0 Cash balance, Dec. 1 Cash balance, Dec. 31