The following amounts summarize the financial position of Little Red Dog Inc. on May 31, 202X Assets Computers (net) + Supplies + Land = 0 60 7200 + Liabilities Accounts Note Salaries Payable Payable Payable 4800 0 0 + Cash + Balance 1560 Accounts Receivable 600 + + Interest Payable 0 Shareholders' Equity Common Retained Shares Earnings 2400 2220 During June 202X, the business completed these transactions: June 1: Began the business with an investment of $5400 cash in exchange for common shares June 1: Purchased a computer for a total of $3900 by signing a note payable. Interest of 5% to be paid with the note payable on June 1 next year. The computer is expected to last 5 years. June 5: Purchased office supplies on account for $2700 June 9: Invoiced a client for services performed, $600. June 13: Received $60 cash from a customer to clear the balance owing on their account. June 20: Received a $600 bill for advertising for a campaign that had been run during the month. June 23: Paid $600 of a bill received earlier in the month. June 25: Performed services for clients and received $2100 in cash. June 30: Declared and paid a cash dividend of $360. June 30: A physical count revealed that $300 worth of supplies are still on hand. June 30: Paid $420 for the month's office rent and accrued employee salaries. Employees work 5 days each week and are paid $1000 every Friday. The month ended on a Tuesday. Other Information: 1) In the past, Little Red Dog Inc. has used the following accounts on their income statement: Revenue, Depreciation 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 202X. 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, 202X. 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, 202X. Place your answer under "Requirement 4* in the "Answer tab." 5) Prepare the Balance Sheet at June 30, 202X. Place your answer under "Requirement 5* in the Answer" tab. 6) Using the method outlined in the textbook, journalize the necessary closing entries for the month ended June 30, 202X. Place your answer under "Requirement 6 in the "Answer" tab