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

On December 1, Sanyu Sony transferred $67,400 in cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common shares.

2 The company rented office space and paid $1,400 in cash for December rent.

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

5 The company bought office supplies paying $800 in cash.

6 The company completed the electrical work and immediately collected $1,100 in cash for these services.

8 The company purchased $2,560 worth of office equipment on credit.

15 The company completed electrical work on credit in the amount of $4,500.

18 The company purchased $410 worth of office supplies on credit.

20 The company paid $2,560 in cash for the office equipment purchased on December 8.

24 The company billed a customer $900 for electrical work performed; balance due in 30 days.

28 The company received $4,500 in cash for work completed on December 15.

29 The company paid the assistant's salary of $1,400 in cash for this month.

30 The company paid $530 in cash for this month's utility bill.

31 The company paid $970 in cash in dividends to the owner (sole shareholder).

3-a. Prepare an income statement for the current month.

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

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

3d Prepare a balance sheet at the end of the month.