Required intormation Problem 1-9A (Algo) Analyzing transactions and preparing financial statements LO P1, P2 [The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. December 1 Sanyu Sony transferred $68,800 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. December 2 The company paid $1,200 cash for the December rent. December 3 The company purchased $14,000 of electrical equipment by paying $5,800 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $900 cash. December 6 The company completed electrical work and immediately collected $1,100 cash for these services. December 8 The company purchased $2,600 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $6,700. December 18 The company purchased $360 of supplies on credit. December 20 The company paid $2,600 cash for the office equipment purchased on December 8 . December 24 The company billed a client $800 for electrical work completed; the balance is due in 30 days. December 28 The company received $6,700 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,600 cash for this month. December 30 The company paid $530 cash for this month's utility bill. December 31 The company paid $940 cash in dividends to the owner (sole shareholder). Problem 1-9A (Algo) Part 1 Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter reductions to account balances with a minus sign.) Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter reductions to account balances with a minus sign.) 2-a. Prepare the income statement for the current month. 2-b. Prepare the statement of retained earnings for the current month. 2-c. Prepare the balance sheet as of the end of the month. 3. Prepare the statement of cash flows for the current month. Complete this question by entering your answers in the tabs below. Prepare the income statement for the current month. 2-a. Prepare the income statement for the current month. 2-b. Prepare the statement of retained earnings for the current month. 2-c. Prepare the balance sheet as of the end of the month. 3. Prepare the statement of cash flows for the current month. Complete this question by entering your answers in the tabs below. Prepare the statement of retained earnings for the current month. 2-a. Prepare the income statement for the current month. 2-b. Prepare the statement of retained earnings for the current month. 2-c. Prepare the balance sheet as of the end of the month. 3. Prepare the statement of cash flows for the current month. Complete this question by entering your answers in the tabs below. Prepare the balance sheet as of the end of the month. Prepare the statement of cash flows for the current month. (Cash outflows should be indicated with a minus sign.)