A Alan Simmon CPA Simmon experienced the following events during the organising m on receny opened on accounting firm on April 1, which he operates as a corporation. The name of the new entity phase of the new business and its first month of operations in 2018 Co the icon to view the transactions) Read the requirements Requirement 1. Analyze the effects of the events on the accounting equation of Alan Simmon, CPA Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 5th. For each transaction that follows the transaction on these calculate the balance in each account for analyzing its efect on the accounting equation A c ting the ending balance of each account on the 30th, calculate total assets and totallaties and equity. Complete only the necessary answer boxes for your transaction lines. Do noter any rers for your transaction lines Carry down all balances to the Baline, including zero balance accounts, entering a for any rere balances Enter a decrease in an account with a minus sign or parentheses Abbreviations used AP Accounts Payable: AR Accounts Receivable: Com. Common Contr. Contributed: Div-Dividends: Exp Expense Fum, Furniture Lisb-Labilities: Rev Revenue Sup. Supplies Util Units) More to Apr 5 Simmon deposited $70,000 in a new business bank accountitled Alan Simmon, CPA. The business issued common stock to Simmon. 6 Paid $500 cash for letterhead stationery for new office 7 Purchased umibare for the office on account. $9200 10 Consulted with tax client and received $1,000 for services rendered 11 Paldies $250 12 Finished tax hearings on behalf of a client and submitted a bil for accounting services, $10,000 18 Paid offront, 12.000 25 Received amount due from client that was billed on April 12. 27 Paid amount of accounts payable created on April 7 30 Cash dividends of $2.500 were paid to stockholders Choose from any is Save for later ASSETS = LIAB. EQUITY Contr. + Cash A/R + Office Furn. AP Cap. + Com. Stock Div. Retained Earnings + Service - Rent Rev. Exp. - Util. Exp. Sup 4/11 Bal Choose from any list or enter any number in the input fields and then continue to the next question. Read the requirements Bal. 4/12 LLLLILININ Requirement 2. Prepare the financial statements. a. Income statement. (If a box is not used in the table leave the box empty, do not select a label or enter a zero.) Review the ending balances of the accounts from Requirement 1. Net Income b. Statement of retained earnings Enter any increases in retained earnings prior to the subtotal and any decreases in retained earnings below the subtotal (Complete all answer boxes. Enter a 'o'for any zero balances.) Review the ending balances of the accounts from Requirement 1. Retained Earnings, April 1, 2018 Retained Earnings, April 30, 2018 c. Balance sheet. Only include balance sheet accounts with a balance at April 30. Do not include any zero-balance accounts. (If a box is not used in the table leave the box empty do not select alwborna Retired Emin April 30, 2018 Balance sheet Only include balance sheet accounts with a balance at April 30. Do not include any balance accounta bor is not used in the tableave the box amply do not Review the ending balances of the counts from Requirement Stockholders' Equity