The accountant for the firm owned by Vincent Sutton prepares financial statements at the end of each month. Transactions: a. Sutton Invested $90,000 in cash to start the business. b. Paid $6,000 for the current month's rent. C. Bought office furniture for $10,580 in cash. d. Performed services for $8,200 in cash. e. Paid $1,250 for the monthly telephone bil f. Performed services for $14,000 on credit. g. Purchased a computer and copler for $18,000; paid $7,200 in cash Immediately with the balance due in 30 days. h. Received $7,000 from credit clients. 1. Paid $2,800 in cash for office cleaning services for the month. J. Purchased additional office chairs for $5,800; received credit terms of 30 days. k. Purchased office equipment for $22.000 and paid half of this amount in cash immediately, the balance is due in 30 days. I. Issued a check for $9.400 to pay salaries. m. Performed services for $14,500 in cash. n. Performed services for $16,000 on credit. o. Collected $8,000 on accounts receivable from charge customers. p. Issued a check for $2,900 in partial payment of the amount owed for office chairs. 4. Paid $725 to a duplicating company for photocopy work performed during the month. 1. Paid $1.280 for the monthly electric bill. s. Sutton withdrew $5,500 in cash for personal expenses. Required: Prepare a trial balance, an income statement, a statement of owner's equity, and a balance sheet. Assume that the transactions took place during the month ended June 30, 20XL Determine the account balances before you start work on the financial statements. Analyze: What is the change in owner's equity for the month of June? Complete this question by entering your answers in the tabs below. Trial Income Stmt of Balance Balance Statem... Owners Sheet Analyze Determine the account balances and prepare a trial balance for the month ended June 30, 20x1. VINCENT SUTTON, LANDSCAPE CONSULTANT Trial Balance June 30, 20X1 Account Name Debit Credit Total Trial Balance Income Statement > Analyze: What is the change in owner's equity for the month of June? Complete this question by entering your answers in the tabs below. Trial Income Stmt of Balance Balance Statem... Owners Sheet Analyze Prepare an income statement for the month ended June 30, 20x1. VINCENT SUTTON, LANDSCAPE CONSULTANT Income Statement Month Ended June 30, 20X1 Revenue Expenses Total expenses Analyze: What is the change in owner's equity for the month of June? Complete this question by entering your answers in the tabs below. Trial Income Stmt of Balance Balance Statem... Owners Analyze Sheet Prepare a statement of owner's equity for the month ended June 30, 20x1. VINCENT SUTTON, LANDSCAPE CONSULTANT Statement of Owner's Equity Month Ended June 30, 20X1 Income Statement Balance Sheet > Analyze: What is the change in owner's equity for the month of June? Complete this question by entering your answers in the tabs below. Trial Income Stmt of Balance Analyze Balance Statem... Owners Sheet Prepare a balance sheet for the month ended June 30, 20X1. VINCENT SUTTON, LANDSCAPE CONSULTANT Balance Sheet June 30, 20X1 Assets Liabilities Owner's Equity Total Assets Total Liabilities and Owner's Equity Analyze: What is the change in owner's equity for the month of June? Complete this question by entering your answers in the tabs below. Stmt of Balance Analyze Trial Income Balance Statem... Owners Sheet What is the change in owner's equity for the month of June? Change in owner's equity