On August $1,20$Y$9,$ Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August:

a$.$ Opened a business bank account with a deposit of $$28,000$ in exchange for common stock.

b$.$ Paid rent on office and equipment for the month, $$3,600.$

c$.$ Paid automobile expenses for month, $$1,300,$ and miscellaneous expenses, $$700.$ d$.$Purchased office supplies on account, $$1,250.$

e$.$ Earned sales commissions, receiving cash, $$18,400.$

f$.$ Paid creditor on account, $$750.$

g$.$ Paid office salaries, $$3,000.$

h$.$ Paid dividends, $$3,300.$

i$.$ Determined that the cost of supplies on hand was $$500$; therefore, the cost of supplies used was $$750$ Indicate the effect of each transaction and the balances after each transaction, using the tabular headings in the exhibit below.

Accounting Equation Grid Instructions

Assets $=$ Liabilities $+$ Stockholders$$ Equity

Accounts Common Sales Rent Salaries Auto Supplies Miscellaneous

Cash $+$ Supplies $=$ Payable $+$ Stock $-$ Dividends $+$ Commissions $-$ Expense $-$ Expense $-$ Expense $-$ Expense $-$ Expense

a$.$

b$.$

Bal. $-$

c$.$

Bal. $---$

d$.$

Bal. $---$

e$.$

Bal. $---$

f$.$

Bal. $---$

g$.$

Bal. $----$

h$.$

Bal. $-----$

i$.$

Bal. $------$

$2.$ a$.$ Prepare an income statement for August. $2.$b$.$ Prepare a statement of stockholders$$ equity for August. $2.$ c$.$ Prepare a balance sheet as of August $31.$