Seth Feye established Reliance Financial Services on July 1, 20Y2, as a proprietorship. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow:

Required:

1. Prepare an income statement for the month ended July 31, 20Y2.

2. Prepare a statement of owner's equity for the month ended July 31, 20Y2.

3. Prepare a statement of cash flows for the month ending July 31, 20Y2.

Accounts

Accounts receivable

Accounts payable

Auto expense

Cash

Fees earned

Miscellaneous expense

Rent expense

Seth Feye, capital

Salaries expense

Supplies

Supplies expense

Labels

Cash flows from (used for) operating activities

Cash flows from (used for) investing activities

Cash flows from (used for) financing activities

Expenses

For the Month Ended July 31, 20Y2

July 31, 20Y2

Amount Descriptions

Cash paid for owner withdrawals

Cash paid for expenses and to creditors

Cash received from customers

Cash received from owner's investment

Cash balance, July 1, 20Y2

Cash balance, July 31, 20Y2

Investment by owner

Net cash flows from financing activities

Net cash flows from investing activities

Net cash flows from operating activities

Net cash flows used for financing activities

Net cash flows used for investing activities

Net cash flows used for operating activities

Net income

Net loss

Net increase in cash

Net decrease in cash

Seth Feye, capital, July 1, 20Y2

Seth Feye, capital, July 31, 20Y2

Total assets

Total expenses

Total liabilities and owner's equity

Withdrawals

\begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Assets } & \multirow{2}{*}{=LiablutiesAccounts} & \multicolumn{8}{|c|}{ + Owner's Equity } \\ \hline & & Accounts & & & Seth Feyo, & Seth Feye, & Fees & Salaries & Rent & Auto & Supplies & Misc. \\ \hline & Cash & + Recelvable & + Supplies & = Payable & + Capital & -Drawing & + Eamed & - Expense & - Expense & - Expenso & - Expense & -Expense \\ \hline a. & +53,000 & & & & +53,000 & & & & & & & \\ \hline b. & & & 6,000 & 6,000 & & & & & & & & \\ \hline Bal. & 53.000 & & 6,000 & 6,000 & 53,000 & & & & & & & \\ \hline c. & 3,500 & & & 3,500 & & & & & & & & \\ \hline Bal. & 49,500 & & 6,000 & 2,500 & 53,000 & & & & & & & \\ \hline d. & +108,000 & & & & & & +108,000 & & & & & \\ \hline Bal. & 157,500 & & 6,000 & 2,500 & 53,000 & H & 108.000 & & & & & \\ \hline a. & 33,400 & & & & & & & & 33,400 & & & \\ \hline Bal. & 124,100 & & 6,000 & 2,500 & 53,000 & & 108,000 & & 33,400 & & & \\ \hline t. & 21,100 & & & & & & & & & 15,200 & & 5,900 \\ \hline Bal. & 103,000 & & 6,000 & 2.500 & 53,000 & & 108.000 & & 39,400 & -15.200 & & 5,900 \\ \hline 0. & 59,000 & & & & & & & 59,000 & & & & \\ \hline Bal. & 44,000 & & 6,000 & 2,500 & 53,000 & & 106.000 & 59,000 & 33.400 & 15,200 & & 5,900 \\ \hline n. & & & 3,900 & & & & & & & & 3,000 & f \\ \hline Bal. & 44,000 & & 2,100 & 2,500 & 53,000 & & 108.000 & 59,000 & 33,400 & 15,200 & 3,900 & 5,900 \\ \hline i. & & +50,100 & & & & & +50,100 & & & & & \\ \hline Bal & 44,000 & 50,100 & 2,100 & 2,500 & 53,000 & & 158,100 & 59,000 & 33,400 & 15,200 & 3,900 & 5,000 \\ \hline 1 & 12,500 & & & & & 12,500 & & & & & & \\ \hline Bal. & 31.500 & 50,100 & 2,100 & 2,500 & 53,000 & 12,500 & 158,100 & 59,000 & 33,400 & 15,200 & 3,900 & 5,900 \\ \hline \end{tabular}