Transactions; Financial Statements On August 1, 2018, Brooke Kline 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. b. Purchased supplies on account, $2,050. c. Paid creditor on account, $1,300. d. Earned sales commissions, receiving cash, $20,920. e. Paid rent on office and equipment for the month, $4,100. f. Paid dividends, $6,000. g. Paid automobile expenses for month, $1,970, and miscellaneous expenses, $940. h. Paid office salaries, $2,470. i. Determined that the cost of supplies on hand was $690; therefore, the cost of supplies used was $1,360. Required: 1. Indicate the effect of each transaction and the balances after each transaction. For those boxes in which no entry is required, leave the box blank. If required, enter negative values as negative numbers using a minus sign. Assets = Liabilities + Stockholders' Equity Cash + Supplies Accounts Payable + Common Stock Dividends Sales Commissions Rent Expense - Salaries Expense Auto Expense Supplies Expense Miscellaneous Expense a. b. Bal. c. Bal. d. Bal. e. Bal. III f. Bal. g. Bal. g. Bal. h. nell Illll Bal. i. Bal. 2. Prepare an income statement for August. Western Realty Income Statement For the Month Ended August 31, 2018 Expenses: Total expenses DO Prepare a retained earnings statement for August. If an amount is zero, enter "0". For those boxes in which you must enter subtracted or negative numbers use a minus sign. Western Realty Retained Earnings Statement For the Month Ended August 31, 2018 Prepare a balance sheet as of August 31. Western Realty Balance Sheet August 31, 2018 Assets 00 Total assets Liabilities s V! Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity