Refer to the worksheet in E3-54B. Assume all beginning balances are zero. Prepare the four financial statements using the data provided in the worksheet.
In E3-54B, analyze the transactions for Information Resource Services, Inc., that appear in the worksheet on the following page and explain the transaction or event that resulted in eachentry.

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Assets = Liabilities Shareholders' Equity ntributed Retained Earnings Capital All other All Commor stock Transaction Cash assets (Account) liabilities (Account) (Account) 1. $115,000 $115,000 2. (112,500112,500 Property, plant, and equipment 3. 85,000 85,000 Notes payable 4. (1,000)| 1,000 Supplies 5. (825) 825 Prepaid rent 6. 13,150 Accounts 13,150 Service revenue receivable (G15) Supplies (615) Supplies expense (275) Rent expense (795) Salary expense 8. (275) Prepaid rent 795 Salaries payable (1,500) Accumulated depreciation 10. (1,500) Depreciation 50 Interest payable (50) Interest expense -Income Statement Statement of Changes in Shareholders' Equity Balance SheetStatement of Cash Flows