The transactions relating to the formation of Blue Co. Stores Inc. and its first month of operations follow. a. The firm was organized and the stockholders invested cash of $8,800 b. The firm borrowed $4.900 from the bank, a short-term note was signed. c. Display Cases and other store equipment costing $1750 were purchased for cash. The original fist price of the equipment was $1.920, but a discount was received because the seller was having a sale. d. A store location was rented, and $1,500 was paid for the first month's rent e Inventory of $14.300 was purchased; $8,800 cash was paid to the suppliers, and the balance will be paid within 30 days. During the first week of operations, merchandise that had cost $3,100 was sold for $5,800 cash g. A newspaper ad costing $100 was arranged for it ran during the second week of the store's operations. The ad will be paid for in the next month h. Additional Inventory costing $4,250 was purchased cash of $1,200 was paid, and the balance is due in 30 days. 1. In the last three weeks of the first month, sales totaled $14,500, of which $9,300 was sold on account. The cost of the goods sold totaled $9,100. J. Employee wages for the month totaled $1,900 these will be paid during the first week of the next month k. The firm collected a total of $3,350 from the sales on account recorded in transaction i 1. The firm paid a total of $4,700 of the amount owed to suppliers from transactione a Required: a. Record each transaction in the appropriate columns, Indicate the financial statement effect. b. Calculate the total assets, labilities, and stockholders' equity at the end of the month and calculate the amount of net income for the month c. After completing parts a through prepare an income statement for Blue Co Stores Inc. for the month presented and a balance sheet at the end of the month Complete this question by entering your answers in the tabs below. Recured A Required Required CI Required C2 Record each transaction in the appropriate columns Indicate the financial statement effect. (Enter decreases with a mission to indicate a negative france statement 111 Nat) a. Record each transaction in the appropriate columns, Indicate the financial statement effect. b. Calculate the total assets, liabilities, and stockholders' equity at the end of the month and calculate the amount of net income for the month c. After completing parts a through t prepare an income statement for Blue Co. Stores Inc. for the month presented and a balance sheet at the end of the month Complete this question by entering your answers in the tabs below. Required A Required 8 Required Required C2 Record each transaction in the appropriate columns. Indicate the financial statement effect. (Enter decreases wah minus skyn to indicate a negative Financial statement Transaction ASSETS LIABILITIES STOCKHOLDERS' EQUITY Accounts Merchandise Notes Atents Paldin Retained RolvableInventory Equipment - Payable Payatile Capital Earnings Revenue - Expenses Cash 0 d o Required: a. Record each transaction in the appropriate columns. Indicate the financial statement effect. b. Calculate the total assets, Habilities, and stockholders' equity at the end of the month and calculate the amount of net income for c. After completing parts a through I prepare an income statement for Blue Co. Stores Inc. for the month presented and a balance sheet at the end of the month. the month. Complete this question by entering your answers in the tabs below. Required A Required B Required Required C2 Calculate the total assets, labilities, and stockholders' equity at the end of the month and calculate the amount of net income for the month. Assets Liabilities Stockholders' Equity Net Income Required: a. Record each transaction in the appropriate columns. Indicate the financial statement effect b. Calculate the total assets, liabilities, and stockholders' equity at the end of the month and calculate the amount of net income for the month, c. After completing parts a through t, prepare an income statement for Blue Co, Stores Inc, for the month presented and a balance sheet at the end of the month Complete this question by entering your answers in the tabs below. Required A Required B Required C Required C2 After completing parts a through I, prepare an income statement for Blue Co. Stores Inc. for the month presented. (Enter decreases with a minus sign to indicate a negative income statement effect.) BLUE CO. STORES INC. Incomo Statement Effect After completing parts a through l, prepare a balance sheet for Blue Co. Stores Inc. at the end of the month. BLUE CO. STORES INC. Balance Sheet Assets: Total current assets 0 Total assets $ 0 Llabilities: $ Total liabilities Stockholders' Equity: 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0