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 answers by selecting the date on the trial balance tab.$)$ The first $3$ transactions are completed for you!

$\backslash$table$[[$Where can you go to find each of your answers?,Net Income,Total Assets,$\backslash$table$[[$Total$],[$Liabilities$]],$Total Equity$],[\backslash$table$[[$Income$],[$statement$]],,$sheet,Balance sheet,Balance sheet$],[\backslash$table$[[$December $1-$ Smith Engineering receives $$32,000$ cash$],[$from Steven Smith in exchange for common stock.$]],0,$$$,32,000,0,32,000],[$December $2-$ Pays $$2,600$ cash for supplies.,$0,,32,000,0,32,000],[$December $3-$ Pays $$28,000$ cash for equipment,$0,,32,000,0,32,000],[\backslash$table$[[$December $4-$Purchases $$7,300$ of supplies on credit$],[$from a supplier.$]]],[\backslash$table$[[$Drom a supplier.$],[$immediately collects $$4,300$ cash.$]]],[$December $6-$ Pays $$1,100$ cash for December rent.$],[$December $7-$ Pays $$800$ cash for employee salary$],[\backslash$table$[[$December $8-$ Provides consulting services of $$1,700$