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Review the following transactions and related T-accounts that were previously prepared. Assume that all transactions occurred in the month of December (Click the icon to view the transactions.) (Click the icon to view the T-accounts.) Reference Read the requirements. DOOTT DOTTOTT (a) 1,000 (a) 32,400 Requirement 1. Prepare the trial balance of Eric Newton, Attomey, at December 31, 2016. Use the T-accounts that have been prepared for the business. 23.000 (b) (d) 2,500 Eric Newton, Attorney Trial Balance 150 i Transactions () (9) 2,000 December 31, 2016 Debit Bal 17.350 Bal 32,400 Account Credit a. Accounts Receivable Dividends (1) (g) 2,000 Eric Newton opened a law firn by investing 523,000 and office furniture will a fair value of $9,400. Organized as a professional corporation, the busines issued common stock to Newton. b. Paid monthly rent of $1,000. Purchased office supplies on account, $700. d. Paid employee salaries of S2,500. Paid $150 of the account payable created in transaction c. f. Performed legal services on account, $10,900. 9. Declared and paid dividends of S2,000. 10.900 10.900 C. Bal Bal 2.000 e. Office Supplies Service Revenue (c) 700 10,900 10,900 Bal 700 Bal Print Done Office Furniture Salary Expense (a) 9,400 (d) 2,500 Total Bal 9.400 Bal 2.500 Requirement 2. How well did the business perform during its first month? Compute net income (or net loss) for the month. (Please use a minus sign or pe Accounts Payable Rent Expense The business performed as shown by the $ of for the month of December (e) 150 (c) 700 (b) 1,000 Choose from any list or enter any number in the input fields and then continue to the next question. Print Done