Rory Kalur established Computers 4Less on February 1, 2012. The effect of each transaction and the balances after each transaction for February are shown below.

Instructions1. Prepare an income statement for the month ended February 29, 2012.2. Prepare a retained earnings statement for the month ended February 29, 2012.3. Prepare a balance sheet as of February 29, 2012.4. (Optional) Prepare a statement of cash flows for the month ending February 29,2012.

Linbilities Assets Stockholders' Equity Salaries Misc. Accounts + Receivable + Supplies = Payable + Accounts Capital Stock saydcns Dividends + Eatned - Espense - Expense - Expense - Expense - Expense Fees Rent Auto Cash +120.000 +120.000 a. +10,400 b. - 10.400 Bal. 120.000 10.400 10.400 120.000 +118000 238.000 -32.000 +118.000 120.000 Bal 10,400 10.400 118.000 d. -32.000 Bal. 10.400 10.400 120,000 118.000 -32000 206,000 -5.000 -5.000 Bal. 201,000 5400 120.000 -32.000 10,400 118,000 +83,000 +83.000 120.000 Bal. 201.000 3,000 10,400 5,400 201D00 -32.000 -15,500 -7,500 -23,000 120.000 Bal. h. 178.000 83,000 -32.000 -15,500 -7,500 10,400 5.400 201,000 48.000 48,000 Bal. 130.000 83,000 10,400 SA00 120,000 201 000 48,000 -32,000 -15,500 -7500 6,100 6.100 120.000 Bal. 130.000 83,000 4,300 5400 201.000 48,000 -32.000 -15,500 -7,500 6,100 -30,000 -30 000 Bal 100 000 83,000 4.300 5.400 120000 -30,000 201000 -32.000 -15,500 -6,100 -7500 48,000