Steven Smith opens a web consulting business called Smith Engineering and completes the following transactions in its first month of operations. Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded. April 1 Smith invested $83,000 cash along with office equipment valued at $26,500 in the company in exchange for common stock. April 2 The company prepaid $9,600 cash for 12 months' rent for office space. The company's policy is to record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $8,100 in office equipment and $3,700 in office supplies. Payment is due within 10 days. April 6 The company completed services for a client and immediately received $4,300cash. April 9 The company completed a $6,500 project for a client, who must pay within 30 days. April 13 The company paid $11,800 cash to settle the account payable created on April 3 . April 19 The company paid $2,640 cash for the premium on a 12 -month prepaid insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. April 22 The company received $3,900 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $4,000 on credit. April 28 The company paid $5,600 cash in dividends. April 29 The company purchased $700 of additional office supplies on credit. April 30 The company paid $500 cash for this month's utility bill. The financial statements report the cumulative impact of all transactions recorded as of the financial statement date. Input the cumulative amount of a) Net Income (Loss), b) Total Assets, c) Total Liabilities, and d) Total Equity that would be reported on the financial statements immediately after each transaction is recorded. (Hint: You can check your work by selecting the date on the trial balance tab.) The first two transactions are completed for you! Show less