Prepare a classified balance sheet at May 31, 2017. (List current assets in order of liquidity) SPLISH BROTHERS INC. Balance Sheet Assets Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity (02) Your answer is correct. Prepare a retained earnings statement for the month of May 2017 SPLISH BROTHERS INC. Retained Earnings Statement For the Month Ended May 31, 2017 Retained Earnings, May 1 Add : Net Income /(Loss) 3006 3006 Less : Dividends 277 i Retained Earnings, May 31 2729 e Textbook and Media List of Accounts Your answer is correct. Prepare an income statement for the month of May 2017. SPLISH BROTHERS INC. Income Statement For the Month Ended May 31, 2017 Revenues Service Revenue 7756 Expenses Rent Expense 831 2081 Advertising Expense Salaries and Wages Expense Utilities Expense Total Expenses 4750 3005 Net Income /(Loss) Nona Curry started her own consulting firm, Splish Brothers Inc., on May 1, 2017. The following transactions occurred during the month of May: May 1 Stockholders invested $20,775 cash in the business in exchange for common stock. 2 Paid $831 for office rent for the month. 3 Purchased $692 of supplies on account. 5 Paid $208 to advertise for the month in the County News. 9 Received $1,939 cash for services performed 12 Paid $277 cash dividend. 15 Performed $5,817 of services on account. 17 Paid $3,462 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1.662 for services performed on account on May 15. 26 Borrowed $6.925 from the bank on a note payable. 29 Purchased office equipment for $2,770 paying $277 in cash and the balance on account 30 Paid $249 for utilities