V6 , , 9, does not Assets LiabilitiesStockholders' Equit Accounts Accounts CommonRetained Cash -Receivable-+-Supplies.-- Land Payable + Stock--+-Earnings During September 19x2, the following events occurred: Blake inherited $20,000 and deposited the cash in the business bank account. The business a. issued common stock to Blake. b. Performed services for a client and received cash of $700. c.. Paid off the beginning balance of accounts payable. d. Purchased supplies on account, $1,000. e. Collected cash from a customer on account, $500. . Received cash of $1,000 and issued common stock to Blake. Consulted on the interior design of a major office buildingand billed the client for services rendered, $2,400. h. Recorded the following business expenses for the month: credit part 400 (1) Paid office rent-$900. (2) Paid advertising-$300. I. Sold supplies to another business for $150 cash, which was the cost of the supplies. J. Declared and paid a cash dividend of $1,800. Required 1. Analyze the effects of the preceding transactions on the accounting equation of Blake inte $200. zount payabe t20o riors, Inc. Adapt the format of Exhibit 2-1, Panel B. 2. Prepare the income statement of Blake Interiors, Inc., for the month ended September 3 ntries are 1992. List expenses in'aereising order by amount. 4yn 3. Prepare the eptity's statement of retained earnings for the month ended September 3 es, 4. Prepare the balance sheet of Blake Interiors, Inc., at September 30, 19x2. S. As the manager of Blake Interiors, how will you use the information from the income sta rnal. Use ment and the balance sheet to manage the business? Be specific. re valued stock to called siness