Analyzing Transactions and Adjustments Using the Financial Statement Effects Template Werner Realty Company began the month with the following balance sheet. Following are summary transactions that occurred during the current month. 1. The company purchased $8,400 of supplies on credit. 2. The company received $11,200 cash from a new customer for services to be performed next month. 3. The company paid $8,400 cash to cover office rent for two months (the current month and the next). 4. The company billed clients for $35,000 of work performed. 5. The company paid employees $8,400 cash for work performed. 6. The company collected $35,000 cash from accounts receivable in transaction 4 . 7. The company recorded $5,600 depreciation on its equipment. 8. At month-end, $2,800 of supplies purchased in transaction 1 are still available; no supplies were available when the month began. a. Record the effects of each transaction using the financial statement effects template. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. b. Prepare the income statement for this month, the retained earnings reconciliation, and the balance sheet as of month-end. Note: Do not use a negatives sign with your answers. b. Prepare the income statement for this month, the retained earnings reconciliation, and the balance sheet as of month-end. Note: Do not use a negatives sign with your answers