An analysis of transactions for Foley & Co. was presented in E1-8. Assume that August is the company's first month of business.

Instructions
Prepare an income statement and a retained earnings statement for August and a balance sheet at August 31, 2019.

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Liabilities + Accounts Common Assets Stockholders' Equit Accounts+ Supplies+Equipmentayabl_Stock Receivable Retained Earnin Rev._- Exp. Cash Div. 1. +$15,000 2.2,000 -750 +$15,000 +$5,000 $3,000 +$750 4 +4,900 $4,500 +$9,400 5.1,500 6. -2,000 -850 +450 9-3,900 -1,500 -$2,000 -$850 -450 -3,900 -500 10 +500