Various transactions of Singh Services Inc. occurred during August 2019, its first month of operations. Click on "Transactions" tab at bottom of this page to view these. Required: 1 On the printed "Worksheet" page, record the information from the "Transactions" page and total of each column at the end of August. 2 On the second part of the "Worksheet" page, prepare an income statement .and statement of changes in equity for the month ended August 31, 2019, and a balance sheet at August 31, 2019. Identify the revenue earned as Fees. Record the expenses in alphabetical order. ELUL August Amount 5,000 7,000 6,000 600 5,000 1,000 200 100 400 200 80 Transaction Issued common shares for cash Borrowed cash from the bank Paid cash for a used truck Paid cash for a one-year truck insurance policy effective August 1 (record as an asset) Collected fees in cash from a client for work to be performed at a later date Billed a client for services performed today Paid cash for supplies purchased and used today Purchased supplies on credit (record as an asset) Collected part of the amount billed August 7 Paid cash for advertising in the News during the first two weeks of August Paid in cash part of the amount owing for supplies purchased on August 12 Paid the following August expenses in cash: Rent Salaries Telephone Truck operating Called clients about payment of the balances owing from August 7 Billed a client for services performed today, including $1,500 related to cash received August 5 Transferred August's prepaid expenses to insurance expense Counted supplies and found this amount still on hand (recorded the amount used as an expense). 15 20 700 2,000 200 500 5,000 60 80 Date Description Acct. Rec. Assets Ppd. Exp. Singh Services Inc. Transactions Worksheet Liabilities Unused Bank Acct. Unear. Supp. + Truck Loan + Pay. Rev. 6,000 7,000 6,000 S/H Equity Comm. Ret. Stock + Earn. Cash 5,000 ,000! 5,000 7 August 1 1 1 4 5 20 25 28 31 31 Totals ASSETS - LIAB. S/H EQUITY Singh Services Inc. Income Statement For the Month Ended August 31, 2019 Singh Services Inc. Balance Sheet At August 31, 2019 Assets Revenue Fees Cash Acct. rec. Ppd. exp. Unused supp. Truck Total assets Expenses Advertising Insurance Rent Salaries Supplies Telephone Truck operating Total expenses Net income (loss) Liabilities Bank loan Acct. pay. Unearn. rev. Total liabilities Singh Services Inc 0 Statement of Changes in Equity 1 For the Month Ended August 31, 2019 Stockholders' Equity Common stock Retained earn Total S/H equity N- Retained earnings Commo n stock 24 Opening balance 25 Stock issued Total equity Total liab, and equity