Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. June 1 Carlos Sanchez, the owner, invested $134,000 cash, office equipment with a value of $13,500, and $77,000 of drafting equipment to launch the company in exchange for common stock. June 2 The company purchased land worth $57,500 for an office by paying $18,200 cash and signing a long-term note payable for $39,300. June 3 The company purchased a portable building with $46,500 cash and moved it onto the land acquired on June 2. June 4 The company paid $8,100 cash for the premium on an 18-month insurance policy. June 5 The company completed and delivered a set of plans for a client and collected $13,000 cash. June 6 The company purchased $30,200 of additional drafting equipment by paying $18,000 cash and signing a long-term note payable for $12,200. June 7 The company completed $27,600 of engineering services for a client. This amount is to be received in 30 days. June 8 The company purchased $2,000 of additional office equipment on credit. June 9 The company completed engineering services for $25,400 on credit. June 10 The company received a bill for rent of equipment that was used on a recently completed job. The $2,150 rent cost must be paid within 30 days. June 12 The company collected $13,800 cash in partial payment from the client billed on June 9. June 14 The company paid $2,200 cash for wages to a drafting assistant. June 17 The company paid $2,000 cash to settle the account payable created in on June 8. June 20 The company paid $1,350 cash for minor maintenance of its drafting equipment. June 23 The company paid $9,820 cash in dividends. June 28 The company paid $2,200 cash for wages to a drafting assistant. June 29 The company paid $3,180 cash for advertisements on the web during June. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Equity General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. Each journal entry is automatically posted to the General Ledger. General Ledger Tab - To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Abnormal balances appear in parentheses. Click on any amount to see the underlying journal entry. Trial Balance Tab - A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. If your trial balance doesn't balance, review your journal entries on the general journal tab. Income Statement Tab - Using the dropdown buttons, select the financial statement elements and account titles to be included on the income statement. The account balances will automatically populate. Statement of Retained Earnings Tab - Using the dropdown buttons, select the item that accurately describes the values that either increase or decrease the retained earnings balance. Balance Sheet Tab - Using the dropdown buttons, select the financial statement elements and account titles to be included on the balance sheet. The account balances will automatically populate. Impact on Equity Tab - Using the dropdown buttons, indicate the impact each item has on total equity. Compare the total with the amount of equity reported on the balance sheet.