Transactions; financial statements Instructions Labels, Accounts and Amount Descriptions Accounting Equation Geld Income Statemem Instructions On August, 2016, Brooke Kine established Western Realty. Brooke completed the following transactions during the month of August. A Opened a business bank account with a deposit of $20,000 in exchange for common stock 8. Purchased office supples on account, $1.850 C Paid creditor on account, $1,150. D. Eamed sales commission receiving cash. 543.000 E. Paid rent on office and equipment for the month. $2.900 F Paid dividendo, 63.100 G. Paid automobile expenses (ecluding rental charge for month. $3.000, and miscellaneous expenses, 51.000. H paid office salaries, $3,000 Determined that the cost of suppies on hand was $850, therefore, the cost of supplies used was $1,000. Instructions Required: 1. Indicate the effect of each transaction and the balances after each transaction, using the tabular headings in the exhibit below. In euch transaction row (rows indicated by a letter), you must indicate the math sign (+ or :) in columns affected by the transaction. You will not need to anter math signs in the balance rows (rows indicated by Bal.) Entries of 0 (zero) are not required and will be cleared Wontored. Assets =Liabilities Stockholders' Equity Accounts Common Sales Salaries Rent Auto Supplies Miscellaneous Cash Payable + Stock - Expense Supplies Dividends Commissions Expense Expense Expense Expense SULUI Supplies Dividends Commissions Expense Expense Expense Expense 2 a. Prepare an income statement for August. 1 a not loss has been incurred, enter that amount as a negativo number using a minus sign. Peter to the list of Labels, Accounts and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. You will not need to enter colons (-) on the income statement. 2. b. Prepare a retained earnings statement for August. Refer to the list of Labels, Accounts and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement houding. W a not loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. The word "Less" or "Add" is not needed in the retained Earnings Statement. Il an amount is zero, enter "0" 2. c. Prepare a balance sheet as of August 31. Refer to the list of Labels, Accounts and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading