The accountant for the firm owned by Vincent Sutton prepares financial statements at the end of each month.Transactions:Sutton invested $$156,000$ in cash to start the business.Paid $$5,600$ for the current month's rent.Bought office furniture for $$16,320$ in cash.Performed services for $$7,800$ in cash.Paid $$1,210$ for the monthly telephone bill.Performed services for $$13,600$ on credit.Purchased a computer and copier for $$37,200$ paid $$12\mathrm{.}600$ in cash immediately with the balance due in $30$ days.Received $$6\mathrm{.}800$ from credit clients.Paid $$3,600$ in cash for office cleaning services for the month.Purchased additional office chairs for $$5,400,$ received credit terms of $30$ days.Purchased office equipment for $$36,000$ and paid half of this amount in cash immediately, the balance is due in $30$ days.I. Issued a check for $$9,000$ to pay salariesm. Performed services for $$14\mathrm{.}100$ in cash.In$.$ Performed services for $$15,600$ on credit.Collected $$7\mathrm{.}600$ on accounts receivable from charge customers.Issued a check for $$2700$ in partial payment of the amount owed for office chairs!!$9.$ Paid $$660$ to a duplicating company for photocopy work performed during the month.Paid $$1,180$ for the monthly electric bill.Sutton withdrew $$8,600$ 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 $30,20$X$1.$ 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.