Question 1 [50 points] Allarco Inc. began operations on August 1, 2014. The transactions for the first month follow a. Allarco Inc. issued shares to shareholders for $35,000 b. $500 of commissions were earned and collected today by Allarco Inc. e. Fumiture was rented by a customer for $700 cash. d. Provided consulting services to a customer and collected $400. e. Allarco Inc. collected $6,500 for commissions earned today. 1. Allarco Inc. paid this month's $350 water utilities bill received today g. Allarco Inc. will pay this month's electrical utilities bill of $200 received today, within 30 days h. Allarco Inc. paid a $1,250 bill received today for an advertising campaign that ran last week 1. Allarco Inc. paid $100 for this month's gas utilities bill received today j. Allarco Inc. paid dividends of $1,600 to the shareholders. Fill out the following table, according to the transactions above. Select the headings for each column by clicking on the appropriate cell. Also indicate next to each change in equity (in the explanation column) whether it was caused by issuance of share capital (investment), a revenue, an expense or payment of dividends. Identify revenues and expenses by name Calculate the total balance for each column (no + or - sign is required for totals) In addition to this, prepare an income statement, a statement of changes in equity and a balance sheet for the month ended August 31. a) Complete the following accounting equation table (a) (b) (c) (d) (e) ( (g) 0) 0 Bal Assets Liabilities Equity Explanation Share Capital Retained Earings