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

December 1 Sanyu Sony transferred $65,300 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock.

December 2 The company paid $1,900 cash for the December rent.

December 3 The company purchased $14,500 of electrical equipment by paying $6,300 cash and agreeing to pay the $8,200 balance in 30 days.

December 5 The company purchased supplies by paying $900 cash. December 6 The company completed electrical work and immediately collected $1,000 cash for these services.

December 8 The company purchased $3,000 of office equipment on credit.

December 15 The company completed electrical work on credit in the amount of $6,900.

December 18 The company purchased $350 of supplies on credit. December 20 The company paid $3,000 cash for the office equipment purchased on December 8.

December 24 The company billed a client $1,000 for electrical work completed; the balance is due in 30 days.

December 28 The company received $6,900 cash for the work completed on December 15.

December 29 The company paid the assistants salary of $1,600 cash for this month.

December 30 The company paid $500 cash for this months utility bill. December 31 The company paid $910 cash in dividends to the owner (sole shareholder).

2-a. Prepare the income statement for the current month.

2-b. Prepare the statement of retained earnings for the current month.

2-c. Prepare the balance sheet as of the end of the month.

3. Prepare the statement of cash flows for the current month.