Werner Realty Company began the month with the following balance sheet. Cash $18,000 Liabilities Noncash assets 135,000 Contributed capital Eamed capital Total assets $153,000 Total liabilities and equity $153,000 Following are summary transactions that occurred during the current month. 1. The company purchased $3,600 of supplies on credit. 2. The company received $4,800 cash from a new customer for services to be performed next month. 3. The company paid $3,600 cash to cover office rent for two months (the current month and the next). 4. The company billed clients for $15,000 of work performed. 5. The company paid employees $3,600 cash for work performed. 6. The company collected $15,000 cash from accounts receivable in transaction 4. 7. The company recorded $2,400 depreciation on its equipment. 8. At month-end, $1,200 of supplies purchased in transaction 1 are still available; no supplies were available when the month began. a. Record the effects of each transaction using the financial statement effects template. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Transaction 1. 2. 3. 4. 5. 6. 7. 8. Cash Asset $54,000 27,000 72,000 + + + + Noncash Assets + + + + + Balance Sheet Liabilities + + + + + Contrib. Capital + + + Earned Capital + + + + + + Revenues + + + + + + Income Statement Expenses + + + - Net Income b. Prepare the income statement for this month, the retained earnings reconciliation, and the balance sheet as of month-end. Note: Do not use a negatives sign with your answers. Werner Realty Company Income Statement For Current Month Sales revenue $ Total expenses Net income $ Werner Realty Company Retained Earnings Reconciliation For Current Month Retained earnings, beginning of month $ Add: Net income Less: Dividends Retained earnings, end of month Cash Noncash assets Total assets $ $ $ Werner Realty Company Balance Sheet Current Month-End Liabilities Contributed capital Retained earnings $ Total equity Total liabilities and equity $