The Mentha Company was incorporated on July 1, 20X1. Mentha had 10 holders of common stock. Laurie Mentha, who was the president and CEO, held 49% of the shares. The company rented space in chain discount stores and specialized in selling running shoes. Mentha's first location was a store in Centerville Mall. The following events occurred during July A. The company was incorporated. Common stockholders invested $145,000 cash. B. Purchased merchandise inventory for cash, S55,000 C. Purchased merchandise inventory on open account, $28,000 D. Merchandise carried in inventory at a cost of $42,000 was sold for $90,000 $30,000 for cash and $60,000 on open account. Mentha carries and will collect these accounts receivable. E. Collection of a portion of the preceding accounts receivable, $25,000 F. Payments of a portion of accounts payable, $15,000. See transaction C. G. Special display equipment and fixtures were acquired on July 1 for $48,000. Their expected useful life was 48 months with no terminal scrap value Straight-line depreciation was adopted. This equipment was removable Mentha paid $15.000 as a down payment and signed a promissory note for $33,000 H. On July 1, Mentha signed a rental agreement with Centerville Mall. The agreement called for rent of $1,550 per month, payable quarterly in advance. Therefore, Mentha paid $4,650 cash on July 1. I. The rental agreement also called for a payment of 15% of all sales. This payment was in addition to the flat $2.350 per month. In this way, Centerville Mall would share in any success of the venture and be compensated for general services such as cleaning and utilities. This payment was to be made in cash on the last day of each month as soon as the sales for the month were tabulated. Therefore, Mentha made the payment on July 31. 1. Wapos, salaries, and sales commissions were all paid in cash for all earnings by employees. The amount was 530,000 K. Depreciation expense for July was recognized. See transaction G. L. The expiration of an appropriate amount of prepaid rental service was recognized. Seetraction. L Prepare an analysis of Menthe Company'transactions, employing the equation approach demonstrated in Echt 15.1 PE621). The additional com be needed, one for Equipment and F ures and one for Note Perre Show all amounts in thousands 2 Prepare a balance sheet as of July 31, 20XT, and an income Matement for the month of recome Given the spare for analye Mentha performance for July and in financial as of July, 2XT. please answer questions 1,2,3 15-1 Balance Sheet Equation Sacks Fifth operates 197 fashion specialty retail stores in 28 states. The company's actual data (slightly simplified) follow for its fiscal year ended June 15, 2009 in millions of dollars); $5.850 Assets, beginning of period Assets, end of period Liabilities, beginning of period Liabilities, and of period Paid-in capital, beginning or period Paid-in capital, end of period Retained camnings, beginning of period Retained carning, end of period Revenues Costs and expenses Net income Dividends Additional investments by stockholders Find the unknowns (in millions), showing computations to support your answers