Wildhorse Co. was started on May 1. A summary of May transactions is presented as follows. 1. Stockholders invested $14,000 cash in the business in exchange for common stock. 2. Purchased equipment for $4,500 cash. 3. Paid $600 cash for May office rent. 4. Paid $600 cash for supplies. 5. Incurred $350 of advertising costs in the Beacon News on account. 6. Received $4,700 in cash from customers for repair service. 7. Declared and paid a $1,400 cash dividend. 8. Paid part-time employee salaries $800. 9. Paid utility bills $130. 10. Performed repair services worth $1,030 on account. 11. Collected cash of $110 for services billed in transaction (10). 1. 2. 3. 4. 5. Accounts Assets Cash Receivable Supplies Equip 7. 8. 9. 10. 11. +A Equipment $ Liabilities Accounts Payable $ Common Stock $ Revenues Stoc $ tA LA +A Common Stock $ Revenues Stockholders' Equity Retained Earnings $ Expenses Dividends $ GA +A +A Wildhorse Co. Income Statement $ $