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An analysis of the transactions made by Blossom & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $650 for rent, $4,400 for salaries and wages, and $500 for utilities.

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ALCULA VERSION BACK NEX An analysis of the transactions made by Blossom & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $650 for rent, $4,400 for salaries and wages, and $500 for utilities Accounts Accounts Owner's Owner's Cash + Receivable Supplies + Equipment Payable Capital -Drawings $14,000 Revenues-Expenses 1. $14,000 -2,100 -850 5,600 -1,400 -1,900 -650 550 -4,400 2 $5,000 $2,900 $850 4 $3,000 $8,600 -1,400 -$1,900 7 -$650 -550 -4,400 10 500 -500 Assume that August is the company's first month of business. Prepare an income statement for August 31, 2020 BLOSSOM & CO Income Statement