The accountant for the firm owned by Vincent Sutton prepares financial statements at the end of each month. Transactions: a. Sutton invested $152,000 in cash to start the business. b. Paid $5,200 for the current month's rent. c. Bought office furniture for $15,920 in cash. d. Performed services for $7,400 in cash. e. Paid $1,170 for the monthly telephone bill. f. Performed services for $13,200 on credit. g. Purchased a computer and copier for $36,400; paid $12,200 in cash immediately with the balance due in 30 days. h. Received $6,600 from credit clients. i. Paid $3,200 in cash for office cleaning services for the month.. j. Purchased additional office chairs for $5,000; received credit terms of 30 days. k. Purchased office equipment for $32,000 and paid half of this amount in cash immediately; the balance is due in 30 days. I. Issued a check for $8,600 to pay salaries. m. Performed services for $13,700 in cash. n. Performed services for $15,200 on credit. o. Collected $7,200 on accounts receivable from charge customers. p. Issued a check for $2,500 in partial payment of the amount owed for office chairs. q. Paid $620 to a duplicating company for photocopy work performed during the month. r. Paid $1,140 for the monthly electric bill. s. Sutton withdrew $8,200 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, 20X1. 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? place during the month ended June 30, 20X1. Determine the account balances before you start work on the finan 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 Balance Income Statement Stmt of Owners Eqty Balance Sheet Analyze Prepare a balance sheet for the month ended June 30, 20X1. VINCENT SUTTON, LANDSCAPE CONSULTANT Assets Cash Office furniture Office equipment Accounts receivable Total Assets Balance Sheet June 30, 20X1 Liabilities Accounts payable $ 42,700 20,920 39,600 Owner's Equity 29,000 Vincent Sutton, Capital $ 152,000 $ 89,520 Total Liabilities and Owner's Equity $ 194,700 < Stmt of Owners Eqty Analyze >