Shandon Corporation: Balance Sheet as of August 1, 2021. $ 22500 1000 Assets Cash Accounts Receivable Inventory Prepaid Rent Equipment Total Assets 10600 900 3000 38000 Liabilities and Owners 70 600 800 Equity Accounts Payable Wages Payable Dividends Payable Note Payable Retained Earnings Paid in Capital Total Liabilities & OE 160 1080 35290 38000 ho The following events occurred during the month of August. 1. The company sold goods on open account for $35290 during the month. 2. The company sold goods for cash in the amount of $7000 during the month, 3. The cost of the goods that were sold during the month were $10500 4. Dividends in the amount of $800 were paid to shareholders 5. Inventory was purchased in the amount of $3000 on open account The following events occurred during the month of August 1. The company sold goods on open account for $35290 during the month. 2. The company sold goods for cash in the amount of $7000 during the month. 3. The cost of the goods that were sold during the month were $10500 4. Dividends in the amount of $800 were paid to shareholders 5. Inventory was purchased in the amount of $3000 on open account. 6. Wages earned but unpaid during the month were $70. 7. Cash was received from credit customers in the amount of $10500 8. Rent was used up in the amount of $90. 9. Depreciation expense in the amount of $300 was recognized. 10. Dividends in the amount of $1080 were declared. Required: Prepare Journal Entries to record the impact of each of these events on the assets, liabilities and owners equity of Shandor Post all revenues and expenses to separate accounts. Record depreciation as a decrease in equipment. Prepare a monthly Income Statement and Balance Sheet as of August 31, 2021. Upon completion enter the following balance Deet amounts here: Cash: Recounts Receivable Inventor Prepaid Rent Equipment renunte Doughie dit customers in the amount of $10500 8. Rent was used up in the amount of $90 9. Depreciation expense in the amount of $300 was recognized. 10. Dividends in the amount of $1080 were declared. Required: Prepare Journal Entries to record the impact of each of these events on the assets, liabilities and owners equity of Shandon. Post all revenues and expenses to separate accounts. Record depreciation as a decrease in equipment. Prepare a monthly Income Statement and Balance Sheet as of August 31, 2021. Upon completion, enter the following balance sheet amounts here: Cash: Accounts Receivable: Inventory Prepaid Rent Equipment Accounts Payable Wages Payable Dividends Payable: Note Payable Retained Earnings Paid in Capital Trial Balance Total