Sanyu Sony started a new business and completed these transactions during December.

Dec. 1

Sanyu Sony transferred $67,900 cash from a personal savings account to a checking account in the name of Sony Electric.

2

The company rented office space and paid $1,800 cash for the December rent.

3

The company purchased $13,000 of electrical equipment by paying $4,800 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 $2,000 cash for these services.

8

The company purchased $2,510 of office equipment on credit.

15

The company completed electrical work on credit in the amount of $6,400.

18

The company purchased $480 of office supplies on credit.

20

The company paid $2,510 cash for the office equipment purchased on December 8.

24

The company billed a client $900 for electrical work completed; the balance is due in 30 days.

28

The company received $6,400 cash for the work completed on December 15.

29

The company paid the assistants salary of $1,600 cash for this month.

30

The company paid $570 cash for this months utility bill.

31

Sanyu Sony withdrew $970 cash from the company for personal use.

3.1

Prepare an income statement for the current month.

3.2

Prepare a statement of owner's equity for the current month.

3.3

Prepare a statement of cash flows for the current month. (Cash outflows should be indicated with a minus sign.)

3.4	Prepare a balance sheet as of the end of the month.