On August $1,20$Y$9,$ Brooke Kline established Western Realty as a proprietorship. Brooke completed the following transactions during the month of August:a$.$Opened a business bank account with a deposit of $$25,000$ in the name of Western Realty.b$.$Paid rent on office and equipment for the month, $$2,800.$c$.$Paid automobile expenses for month, $$1,500,$ and miscellaneous expenses, $$700.$d$.$Purchased supplies on account, $$1,150.$e$.$Earned sales commissions, receiving cash, $$21,000.$f$.$Paid creditor on account, $$850.$g$.$Paid office salaries, $$3,100.$h$.$Paid cash to Maria Adams for personal use, $$3,200.$i$.$Determined that the cost of supplies on hand was $$450$; therefore, the cost of supplies used was $$700.$Required:$1.$Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings:Assets$=$Liabilities$+$Owner's EquityAccountsBrooke Kline,Brooke Kline,SalesSalariesRentAutoSuppliesMiscellaneousCash$+$Supplies$=$Payable$+$Capital$-$Drawing$+$Commissions$-$Expense$-$Expense$-$Expense$-$Expense$-$Expense$2.$ a$.$ Prepare an income statement for August$\mathrm{.}2.$ b$.$ Prepare a statement of owner's equity for August$\mathrm{.}2.$ c$.$ Prepare a balance sheet as of August $31.$