The following amounts summarize the financial position of Little Red Dog Inc. on May 31, 2020: Cash Balance 3840 Accounts 1920 Assets Liabilities - Computers + Supplies + Land - Accounts + Note 600 15600 10320 0 + - Salaries + Interest . 0 Shareholders' Equity Common Retained 5520 6120 During June 2020, the business completed these transactions June 1: Received cash of $9600 and issued common shares June 1. Bought two computers for a total of $9600 by paying $2700 down and signing a note payable for the rest. Interest of 5% to be paid with the note payable on March 1, 2021. The computers are expected to last 5 years June 5. Performed services for a client and received cash of $10800 June 9: Paid $1200 on accounts payable June 13. Purchased supplies on account, S7200 June 20: Collected cash from a customer on account. $120 June 23. Consulted on the design of a business report, and billed the client for services rendered, $1200 June 25 Declared and paid a cash dividend of $1560 June 30. Recorded the following business expenses for the month: paid office rent, $360; paid advertising, $1560 June 30: Accrued $5400 in employee salaries Employees are paid on the first day of each month June 30: A count revealed that $360 worth of supplies are still on hand Other Information: 1) In the past, Little Red Dog Inc. has used the following accounts on their income statement Revenue, Depreciation Expense, Supplies Expense, Interest Expense, Rent Expense, Salaries Expense. Advertising Expense, and Supplies Expense. They use the Dividends account to record dividends. Not all accounts have been used each period Required: 1) Create all necessary journal entries for the month of June 2020. Place your answer under "Requirement 1" in the "Answer tab. Note that the dates have been pre populated. Ensure your journal entries match the appropriate date. Explanations are not required 2) Analyze the effects of the above transactions on the accounting equation. Place your answer under "Requirement 2" in the 'Answer" tab. 3) Prepare the Income Statement for the month ended June 30, 2020. List expenses in decreasing order by amount. Place your answer under Requirement 3' in the "Answer tab. 4) Prepare the Statement of Retained Earnings for the month ended June 30, 2020. Place your answer under "Requirement 4' in the "Answer tab." 5) Prepare the Balance Sheet at June 30, 2020 Place your answer under "Requirement 5' in the 'Answer tab