An analysis of transactions for J. L. Kang & Co. was presented in E.

Instructions
Prepare an income statement and a retained earnings statement for August and a balance sheet at August 31,2014.

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Assets - Liabilities + Stockholders' Equity Accounts Receivablepli Equipment Accounts Common Cash+ Exp.Div Payable Stocked Earnings Kev 1.$15,000 2. 2,000 -750 +$15,000 +$5,000$3,000 +$750 4. +4,600 4,500 +$9,100 5.-1,500 6. 2,000 -650 +450 9. 3,900 1,500 -$2,000 -$650 -450 -3,900 -500 10 +500