Transactions; Financial Statements

On August $1,2018,$ Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August:

a$.$ Opened a business bank account with a deposit of $$20,000$ in exchange for common stock.

b$.$ Purchased supplies on account, $$2,010.$

c$.$ Paid creditor on account, $$1,270.$

d$.$ Earned sales commissions, receiving cash, $$20,520.$

e$.$ Paid rent on office and equipment for the month, $$4,020.$

f$.$ Paid dividends, $$6,000.$

g$.$ Paid automobile expenses for month, $$1,930,$ and miscellaneous expenses, $$920.$

h$.$ Paid office salaries, $$2,420.$

i$.$ Determined that the cost of supplies on hand was $$680$; therefore, the cost of supplies used was $$1,330.$

Required:

Prepare an income statement for August.

Western Realty