Seth Feye established Reliance Financial Services on July 1, 2018. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow:

Assets				=Liabilities	+ Stockholders Equity
		Accounts		Accounts	Common		Fees	Salaries	Rent	Auto	Supplies	Misc.
	Cash	+ Receivable	+ Supplies	= Payable	+ Stock	- Dividends	+ Earned	- Expense	- Expense	- Expense	- Expense	- Expense
a.	+50,000				+50,000
b.			+7,000	+7,000
Bal.	50,000		7,000	7,000	50,000
c.	-3,600			-3,600
Bal.	46,400		7,000	3,400	50,000
d.	+110,000						+110,000
Bal.	156,400		7,000	3,400	50,000		110,000
e.	-33,000								-33,000
Bal.	123,400		7,000	3,400	50,000		110,000		-33,000
f.	-20,800									-16,000		-4,800
Bal.	102,600		7,000	3,400	50,000		110,000		-33,000	-16,000		-4,800
g.	-55,000							-55,000
Bal.	47,600		7,000	3,400	50,000		110,000	-55,000	-33,000	-16,000		-4,800
h.			-4,500								-4,500
Bal.	47,600		2,500	3,400	50,000		110,000	-55,000	-33,000	-16,000	-4,500	-4,800
i.		+34,500					+34,500
Bal.	47,600	34,500	2,500	3,400	50,000		144,500	-55,000	-33,000	-16,000	-4,500	-4,800
j.	-15,000					-15,000
Bal.	32,600	34,500	2,500	3,400	50,000	-15,000	144,500	-55,000	-33,000	-16,000	-4,500	-4,800

	Required:
1.	Prepare an income statement for the month ended July 31, 2018. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If there is a net loss, enter that amount as a negative number using a minus sign. You will not need to enter colons (:) on the income statement.
2.	Prepare a retained earnings statement for the month ended July 31, 2018. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. The word Less or Add is not needed in the Retained Earnings Statement. Enter all amounts as positive numbers. If an amount is zero, enter "0".
3.	Prepare a balance sheet as of July 31, 2018. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.
4.	Prepare a statement of cash flows for the month ending July 31, 2018. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Enter amounts that represent cash outflows as a negative number using a minus sign. You will not need to enter colons (:) on the financial statements. If an amount is zero, enter "0".