$(4)$ For Target Corporation $($TGT$),$ indicate whether the following transactions would $(1)$ increase,

$(2)$ decrease, or $(3)$ have no effect on stockholders' equity.

Borrowed money from the bank.

Paid creditors.

Made cash sales to customers.

Purchased store equipment.

Paid dividends.

Paid store rent.

Paid interest expense.

Sold store equipment at a gain.

Received interest revenue.

Paid taxes.

$(5)$ After its first month of operations, the following amounts were taken from the accounting

records of West Coast Dreams Realty Inc. as of June $30,2023$

Prepare an income statement for the month ended June $30,2023.$

$(6)$ Using the financial data shown in Question $5$ for West Coast Dreams Realty Inc., prepare a

balance sheet as of June $30,2023$

$(7)$ Selected transactions for Arnett Advertising Company, Inc. are listed here. Describe the effect

of each transaction on assets, liabilities, and owners' equity. For example, the answer to #$1$ is

increase in assets and increase in owners' equity.

Issued common stock to investors in exchange for cash received from investors.

Paid monthly rent

Received cash from customers when service was provided.

Billed customers for services performed.

Paid dividends to shareholders.

Incurred advertising expense on account.

Received cash from customers that were billed in #$4.$

Purchased additional equipment for cash.

Purchased equipment on account.