Sage Hill Inc.created a corporation providing legal services, Sage Hill Inc., on July 1, 2017. On July 31 the balance sheet showed: Cash $4,000; Accounts Receivable $3,900; Supplies $690; Equipment $6,400; Accounts Payable $5,600; Common Stock $7,600; and Retained Earnings $1,790. During August the following transactions occurred. Aug. 1 Collected $1,000 of accounts receivable due from customers. 4 Paid $2,670 cash for accounts payable due. 9 Performed services worth $5,990, of which $3,540 is collected in cash and the balance is due in September. 15 Purchased additional office equipment for $4,460, paying $480 in cash and the balance on account. 19 Paid salaries $1,390, rent for August $690, and advertising expenses $320. 23 Paid a cash dividend of $800. 26 Borrowed $5,250 from American Federal Bank; the money was borrowed on a 4-month note payable. 31 Incurred utility expenses for the month on account $360. SAGE HILL INC. Assets Liabilities Stockholders' Equity Cash Accounts Receivable Supplies Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Revenues Expenses July 31 Bal. $ Aug. 1 4 9 15 19 23 26 31 Prepare an income statement for August. SAGE HILL INC. Income Statement + $ Prepare a retained earnings statement for August. (List Items that increase retained earnings first.) SAGE HILL INC. Retained Earnings Statement $ $ e Textbook and Media Prepare a classified balance sheet at August 31. (List current assets in order of liquidity) SAGE HILL INC Balance Sheet Assets $ $ $ Liabilities and Stockholders' Equity $ + $ 4 $