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Required information [The following information applies to the questions displayed below.) Sanyu Sony started a new business and completed these transactions during December. eBook Dec.

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Required information [The following information applies to the questions displayed below.) Sanyu Sony started a new business and completed these transactions during December. eBook Dec. 1 Sanyu Sony transferred $66,700 cash from a personal savings account to a checking account in the name of Sony Electrie 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 $14,000 of electrical equipment by paying $5,800 cash and agreeing to pay the $8,200 balance in 30 days. 5 The company purchased office supplies by paying $900 cash. 6 The company completed electrical work and immediately collected $1,800 cash for these services. 8 The company purchased $2,880 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $6,100. 18 The company purchased $420 of office supplies on credit. 20 The company paid $2,880 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 $6,100 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,800 cash for this month. 30 The company paid $520 cash for this month's utility bill. 31 The company paid $910 cash in dividende to the owner (solo shareholder). 2.1. Prepare the income statement for the current month. SONY ELECTRIC Income Statement For Month Ended December 31 eBook Revenues Expenses Total expenses 0 0 2.2. 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 $ 0 Retained earnings, December 31 eBook 2.3. Prepare the 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 S 0

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