Yi Minstarted an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $23,500 cash. After those seven transactions, the ledger included the following accounts with normal balances.

Cash

$

45,910

Office supplies

1,000

Prepaid insurance

4,500

Office equipment

11,200

Accounts payable

11,200

Common stock

23,500

Dividends

3,430

Engineering fees earned

41,000

Rent expense

9,660

1.	Prepare a report of cash received and cash paid showing an ending Cash balance of $45,910. (Hint: Analyze the accounts and their balances and prepare a list that describes each of the seven most likely transactions and their amounts.)

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