Seth Feye established Reliance Financial Services on July $1,20$Y$2.$ Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow:

Assets $=$Liabilities $+$ Stockholders$$ Equity

Accounts Accounts Common Fees Salaries Rent Auto Supplies Misc.

Cash $+$Receivable $+$ Supplies $=$ Payable $+$ Stock $-$ Dividends $+$ Earned $-$ Expense $-$ Expense $-$ Expense $-$ Expense $-$ Expense

a$.+55,000+55,000$

b$.+7,400+7,400$

Bal. $55,0007,4007,40055,000$

c$.-3,400-3,400$

Bal. $51,6007,4004,00055,000$

d$.+103,000+103,000$

Bal. $154,6007,4004,00055,000103,000$

e$.-33,400-33,400$

Bal. $121,2007,4004,00055,000103,000-33,400$

f$.-20,900-15,000-5,900$

Bal. $100,3007,4004,00055,000103,000-33,400-15,000-5,900$

g$.-57,000-57,000$

Bal. $43,3007,4004,00055,000103,000-57,000-33,400-15,000-5,900$

h$.-3,500-3,500$

Bal. $43,3003,9004,00055,000103,000-57,000-33,400-15,000-3,500-5,900$

i$.+50,300+50,300$

Bal. $43,30050,3003,9004,00055,000153,300-57,000-33,400-15,000-3,500-5,900$

j$.-13,500-13,500$

Bal. $29,80050,3003,9004,00055,000-13,500153,300-57,000-33,400-15,000-3,500-5,900$

Required:

$1.$ Prepare an income statement for the month ended July $31,20$Y$2.$ Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If there is a net loss, enter that amount as a negative number using a minus sign. You will not need to enter colons $($:$)$ on the income statement.

$2.$ Prepare a statement of stockholders$$ equity for the month ended July $31,20$Y$2.$ Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. If an amount is zero, enter $"0".$

$3.$ Prepare a balance sheet as of July $31,20$Y$2.$ Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.

$4.$ Prepare a statement of cash flows for the month ending July $31,20$Y$2.$ Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Use the minus sign to indicate cash outflows, cash payments and decreases in cash. You will not need to enter colons $($:$)$ on the financial statements. If an amount is zero, enter $"0".$