Required information [The following information applies to the questions displayed below.) Kaylee James, a connoisseur of fine chocolate, opened Kaylee's Sweets in Collegetown on February 1. The shop specializes in a selection of gourmet chocolate candies and a line of gourmet ice cream. You have been hired as manager. Your duties include maintaining the store's financial records. The following transactions occurred in February, the first month of operations + a. Received four shareholders' contributions totaling $29,100 cash to form the corporation, issued 400 shares of $0.10 par value common stock. b. Paid three months rent for the store at $1,700 per month (recorded as prepaid expenses). c. Purchased and received candy for $5,600 on account, due in 60 days d. Purchased supplies for $1,330 cash. e. Negotiated and signed a two year $20,000 loan at the bank, receiving cash at the time. Used the money from (e) to purchase a computer for $3.000 (for recordkeeping and inventory tracking); used the balance for furniture and fixtures for the store. g. Placed a grand opening advertisement in the local paper for $430 cash: the ad ran in the current month. h. Made sales on Valentine's Day totaling $3,200: $2,640 was in cash and the rest on accounts receivable. The cost of the candy sold was $1,400. L. Made a $560 payment on accounts payable. J. Incurred and paid employee wages of $1,100. k Collected accounts receivable of $105 from customers. 1. Made a repair to one of the display cases for $125 cash, m. Made cash sales of $2.700 during the rest of the month. The cost of the candy sold was $1,510. 3. Prepare an unadjusted Income statement at the end of the first month of operations ended February 28. KAYLEE'S SWEETS Income Statement (unadjusted) 0