STEP 1: Based on the statement below, please classify each transaction on each statement: VC (Income statement); B/S (Balance Sheet); R/E (Retained Earning) STEP 2: After complete the step 1, you will transfer each classification on each statement: I ITEMS AMOUNT REVENUE EXPENSES ASSET LIABILITY EQUITY RETAINED EARNING INCOME STATEMENT 1/ BALANCE SHEET B/S $60,000 5,000 $60,000 X $5.000 X 1/ 1/C $600 X 600 1,000 3,000 1,500 800 2,500 TT 800 Revenue Accounts receivable Supplies expenses Supplies Notes receivable Rental expenses Utilities expenses Equipment Prepaid expenses Accounts payable Salaries expenses Notes payable Owners' additional investment Beginner owner's equity Owner's withdraw Inventory 1,000 3,000 2,500 10,000 12,000 8,000 4,500 Paragraph Syles 1 Income Statement $60,000 Revenue Expenses : Net Income I 11 Owner's equity Beginning owner's equity Net income Owner's addition investment Owner's withdraw Ending owner's equity 3) Balance Sheet ASSETS 3) Balance Sheet ASSETS Cash Accounts Receivable Inventory Notes Receivable Supplies Equipment Total Assets LIABILITIES Accounts Payable Notes Payable Total Liabilities OWNER'S EQUITY Owner's equity / capital Total Owner's equity