2. a. Prepare an income statement for August. Income Statement Instructions Ouestion not attemnted. On Auguat 1,20V9, Brooke Kine established Westem Realty. Brooke complated the following transactions during the month of Auguat: a. Opened a busoess bank account weh a deposh of $23,000 in exchange for common stock. b. Paid rent on offlce and equipment for the month, $2,800. c. Paid aulomobile expenses for month, $1,400, and miscellaneous expenses, $600. d. Purchasod oflice supples on acoount, $1,350. - Earhed sales comanissions, receiving cash, $18,200. t. Paid credtor on acoount $700. 9. Paid office salaries, $3,300 h. Paid dividends, $3,500 1. Dotermined that the cost of supples on hand was \$300; therefore, the cost of supples used was $1,050. Aequired: 1. hodcate the effoct of each bansactien and the balaneps affer each transaction, using the following tabular hesdings: 2. Arepare an incone stetement for August. 2. b. Prepare a statiment of stackholders'equity for August. 2. c. Prepare a balance sheet as of August 31 . Western Realty Score: 35/72 Balance Sheet August 31, 20Y9 \begin{tabular}{|l|l|l|} \hline 1 & Assets & \\ \hline 2 & Cash & Liabilities \\ \hline 3 & Supplies & \\ \hline 4 & Total assets & Stockholders' Equity \\ \hline 5 & \\ \hline 6 & Accounts payable & \\ \hline 7 & & \\ \hline 8 & Common stock & \\ \hline 9 & Retained earnings \\ \hline 10 & \\ \hline 11 & \\ \hline \end{tabular} Points: 8.26/17 Statement of Siockhoiders Equity linstuctions Western Roalty Score: 32/89 Statement of Stockholders' Equity For the Monith Ended August 31, 20Yg 1 2. Balances, August 1,20Y9 Common Stock 1. 4. Net income 3 Dividends Points