Shaw's Garden was started on May 1 with an investment of $45,150 cash. Following are the assets, liabilities, and common stock of the company on May 31, 2014, and the revenues and expenses for the month of May, its first month of operations, Accounts receivable $8,800 Notes payable $27.940 Service revenue 11.370 Salaries and wages expense 2,870 Advertising expense 1.800 Equipment 59.770 Accounts payable 4,800 Maintenance and repairs expense 2.120 Cash 11.770 Insurance expense 380 Common stock 45.150 No additional common stock was issued in May, but a dividend of $1,750 in cash was paid. Prepare an income statement for the month of May. SHAW'S GARDEN Income Statement $ !! Prepare an income statement for the month of May, SHAW'S GARDEN Income Statement $ Prepare a retained earnings statement for the month of May. (List items that increase retained earnings first) SHAW'S GARDEN Retained Earnings Statement Prepare a retained earnings statement for the month of May. (List iterns that increase retained earnings first.) SHAW'S GARDEN Retained Earnings Statement $ Prepare a balance sheet at May 31, 2014. (List assets in order of liquidity) SHAW'S GARDEN Balance Sheet Prepare a balance sheet at May 31, 2014. (List assets in order of liquidity) SHAW'S GARDEN Balance Sheet Assets Liabilities and Stockholders' Equity $ Liabilities and Stockholders' Equity $ $