Sanyu Sony started a new business and completed these transactions during December. December 1 Sanyu Sony transferred $65,800 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 $1,800 cash for the December rent. December 3 The company purchased $13,900 of electrical equipment by paying $5,700 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $700 cash. December 6 The company completed electrical work and immediately collected $2,000 cash for these services. December a The company purchased $2,780 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $5,200. December 18 The company purchased $310 of supplies on credit. December 20 The company paid $2,780 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 55,200 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,600 cash for this month. December 30 The company paid $600 cash for this month's utility bill. December 31 The company paid $960 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. SONY ELECTRIC Income Statement For Month Ended December 31 Revenues Electrical services revenue Total Revenues 0 Expenses Rent expense Salaries expense Utilities expense Total expenses Net income $ Olo $ SONY ELECTRIC Statement of Retained Earnings For Month Ended December 31 Retained earnings, December 1 $ 0 Add: Net income 0 Less: Dividends Retained earnings, December 31 $ 0 Prepare SONY ELECTRIC Balance Sheet December 31 Assets Liabilities Accounts payable Cash Electrical equipment Office equipment Accounts receivable Supplies Total liabilities 0 Equity Common stock Retained earnings Total equity 0 Total liabilities and equity Total assets $ 0 Statement of Cash Flows For Month Ended December 31 ash flows from operating activities Cash paid for rent Cash paid for supplies Cash paid to employees Cash paid for utilities Cash received from customers $ $ 0 Net cash provided by operating activities Cash flows from investing activities Cash paid for electrical equipment Cash paid for office equipment 0 Net cash used by investing activities Cash flows from financing activities Cash investment from shareholder Cash dividend to shareholder Net cash provided by financing activities Net increase in cash $ 0 0 o Cash balance, December 1 Cash balance, December 31 0