Slater Inc. was started on May 1. Here is a summary of the May transactions. 3. 3. 10. Stockholders invested $25,000 cash in the company in exchange for common stock. Purchased equipment for $8,000 cash. Paid $500 cash for May office rent Paid $400 cash for supplies. Purchased $850 of advertising in the Hill News on account. Received $8,400 in cash from customers for service. Paid a $600 cash dividend. Paid part-time employee salaries $2,0000 Paid utility bills $240. Provided service on account to customers $1,500. 11. Collected cash of $800 for services billed in transaction (10). Instructions (a) (b) Prepare a tabular analysis of the transactions using these column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Common Stock, and Retained Earnings (with separate columns for Revenues, Expenses, and Dividends). Include margin explanations for any changes in Retained Earnings. From an analysis of the Retained Earings columns, compute the net income or net loss for May NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". a) Assets Accounts 5. Cash $25,000 + Receivable Supplies + Equipment 2 -8000 8000 3 500 4 400 400 Slater, Inc. Liabilities Accounts Payable Stockholders' Equity Common + Stock Revenue Expenses Dividends 25000 850 500 850