The transactions relating to the formation of Blue Company Stores Incorporated, and its first month of operations follow. a. The firm was organized and the stockholders invested cash of $8,300. b. The firm borrowed $5,000 from the bank; a short-term note was signed. c. Display cases and other store equipment costing $1,550 were purchased for cash. The original list price of the equipment was $1,980, but a discount was received because the seller was having a sale. d. A store location was rented, and $1,350 was paid for the first month's rent. e. Inventory of $14,400 was purchased, $9,900 cash was paid to the suppliers, and the balance will be paid within 30 days. f. During the first week of operations, merchandise that had cost $4,100 was sold for $6,800 cash. g. A newspaper ad costing $120 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 $4,100 was purchased; cash of $1,200 was paid, and the balance is due in 30 days. i. In the last three weeks of the first month, sales totaled $14,250, of which $9,500 was sold on account. The cost of the goods sold totaled $9,000. j. Employee wages for the month totaled $1,800; these will be paid during the first week of the next month. k. The firm collected a total of $3,600 from the sales on account recorded in transaction i 1. The firm paid a total of $4,050 of the amount owed to suppliers from transaction e. 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. 1. After recording transactions a through I, prepare an income statement for Blue Company Stores Incorporated for the month presented. 2. After recording transactions a through I, prepare a balance sheet at the end of the month. hent Saved presented. 2. After recording transactions a through I, prepare 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 C1 Required C2 Record each transaction in the appropriate columns. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. ASSETS LIABILITIES STOCKHOLDERS' EQUITY Transaction Cash Accounts Merchandise Receivable Notes Equipment Inventory Payable Accounts Payable Paid-in Capital Retained Earnings + Revenue Expenses 8 b. c. d. 0. f. 9. h. L k L Required A Required B > totaled $9,000. j. Employee wages for the month totaled $1,800; these will be paid during the first we k. The firm collected a total of $3,600 from the sales on account recorded in transacti 1. The firm paid a total of $4,050 of the amount owed to suppliers from transaction e. Required: a. Record each transaction in the appropriate columns. Indicate the financial statemen b. Calculate the total assets, liabilities, and stockholders' equity at the end of the mont the month. c. 1. After recording transactions a through I, prepare an income statement for Blue C presented. 2. After recording transactions a through I, prepare a balance sheet at the end of th Complete this question by entering your answers in the tabs below. Required A Required B Required C1 Required C2 Calculate the total assets, liabilities, and stockholders' equity at the end of the month and for the month. Total assets Total liabilities Stockholders' Equity Net Income < Required A Required C1 > es 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 a the month. c. 1. After recording transactions a through I, prepare an income statement for Blue Company Stores Incol presented. 2. After recording transactions a through I, prepare 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 C1 Required C2 After recording transactions a through I, prepare an income statement for Blue Company Stores Incorporated f presented. Note: Enter decreases with a minus sign to indicate a negative income statement effect. BLUE COMPANY STORES INCORPORATED Income Statement After recording transactions a through I, prepare a balance sheet for Blue Company Stores Incorporated at month. BLUE COMPANY STORES INCORPORATED Total current assets Total assets Balance Sheet Assets: Liabilities: Total liabilities Stockholders' Equity: Total stockholders' equity Total liabilities and stockholders' equity