! Required information Problem 1-9A Analyzing transactions and preparing financial statements LO C4, P1, P2 [The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. Dec. 1 Sanyu Sony transferred $65,000 cash from a personal savings account to a checking account in the name of Sony Electric. 2 The company rented office space and paid $1,000 cash for the December rent. 3. The company purchased $13,000 of electrical equipment by paying $4,800 cash and agreeing to pay the $8,200 balance in 30 days. 5 The company purchased office supplies by paying $800 cash. 6 The company completed electrical work and immediately collected $1,200 cash for these services. 8 The company purchased $2,530 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $5,000. 18 The company purchased $350 of office supplies credit. 20 The company paid $2,530 cash for the office equipment purchased on December 8. 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. 28 The company received $5,000 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,400 cash for this month. 30 The company paid $540 cash for this month's utility bill. 31 Sanyu Sony withdrew $950 cash from the company for personal use. 2.1. Prepare an income statement for the current month. SONY ELECTRIC Income Statement For Month Ended December 31 Revenues Electrical fees earned $ 7,100 7,100 Total Revenues Expenses Rent expense Salaries expense Utilities expense Office supplies 1,000 1,400 540 1,150 Total expenses Net income 4,090 3,010 $ 2.2. Prepare a statement of owner's equity for the current month. SONY ELECTRIC Statement of Owner's Equity For Month Ended December 31 S. Sony, Capital, December 1 $ 0 0 S. Sony, Capital, December 31 $ 0 3. Prepare a statement of cash flows for the current month.(Cash outflows should be indicated with a minus sign.) SONY ELECTRIC Statement of Cash Flows For Month Ended December 31 Cash flows from operating activities $ 0 Cash flows from investing activities 0 Cash flows from financing activities $ 0 Cash balance, Dec. 1 Cash balance, Dec. 31 $ 0