! Required information {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 $64, 100 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 $2,000 cash for the December rent. 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. 5 The company purchased office supplies by paying $700 cash. 6 The company completed electrical work and immediately collected $1,600 cash for these services. 8 The company purchased $2,970 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $6,700. 18 The company purchased $490 of office supplies on credit. 20 The company paid $2,970 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 $6,700 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,900 cash for this month. 30 The company paid $550 cash for this month's utility bill. 31 The company paid $990 cash in dividends to the owner (sole shareholder). ont for the current month 30 The company paid $550 cash for this month's utili 31 The company paid $990 cash in dividends to the on 2.1. Prepare an income statement for the current month. SONY ELECTRIC Income Statement For Month Ended December 31 Revenues Expenses Total expenses 0 $ 0 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 0 Retained earnings, December 31 $ 0 2.3. Prepare a 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 $ $ 0 3. Prepare a statement of cash flows for the current month. (Cash outflows should be SONY ELECTRIC Statement of Cash Flows 5 For Month Ended December 31 Cash flows from operating activities $ 0 Cash flows from investing activities 0 Cash flows from financing activities 0 $ 0 0 Cash balance. Dec. 1 Cash balance, Dec. 31 $ 0