Jeanine Sykes established Linchpin Computer Services on August 1, 2006. The effect of each transaction and the balances after each transaction for August are as follows:

Instructions
1. Prepare an income statement for the month ended August 31, 2006.
2. Prepare a statement of owner’s equity for the month ended August 31, 2006.
3. Prepare a balance sheet as of August 31,2006.

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Assets - LiabilitiesOwner's Equity Accounts Accounts Cash Receivable Supplies Payable Jeanine Sykes, Capital +10,000 +10,000 Investment +1,440 1,440 1,440 Ba. 10,000 + 9,000 Ba 19,000 -3,600 Ba 15,400 e500 Ba 14,900 1,440 1,440 1,440 1440 1,440 10,000 + 9,000 Fees earned 1,440 19,000 3,600 Rent expense 15,400 1,440 -500 940 +7,500 7,500 15,400 7.500 Fees earned 22,900 Ba 14,900 g. 2,300 940 -1,550 Auto expense -750 Misc. expense Ba 2,600 -4,000 8,600 7,500 7,500 7,500 7,500 1,440 940 20,600 - 4,000 Salaries expense 1,440 -650 790 Bal 940 16,600 650 Supplies expense 15,950 Ba 8,600 - 2,000 Ba 6,600 940 - 2,000 Withdrawal 790 13,950