The following amounts summarize the financial position of Little Brown Dog Inc. on May 31, 202X Assets Computers (net) 0 Balance 3520 Cash + Accounts Receivable 1760 + Supplies + Land = 14300 550 June 23: Received $440 from a customer that was billed last month. June 25: Paid $2200 of a bill received earlier in the month. Other Information: Required: Liabilities Accounts Payable 9460 June 30: Billed a client for services rendered, $2750. June 30: A physical count received that $1430 worth of supplies are still on hand. Note Payable 0 Salaries Payable 0 Interest Payable 0 During June 202X, the business completed these transactions: June 1: Received a cash investment totalling $9900 in exchange for common shares. June 1: Purchased three computers. The company paid $2475 in cash and took out a bank loan of $4675 to cover the remaining balance owing. The loan bears interest of 10% to be paid on June 1, next year. The computers are expected to last 5 years. June 5: Paid $770 for the current month's office rent. June 9: The business was invoiced for a $3300 purchase of office supplies. June 13: Performed services for a client and received $7700. June 20: Declared and paid a cash dividend of $1650. Shareholders' Equity Retained Earnings 5610 Common Shares 5060 + June 30: Paid $880 for an advertising campaign that had been run during the month. Employee salaries were also accrued. Employees work 5 days each week and are paid $3000 in total every other Friday. The month ended on a Monday. Employees were last paid 2 weeks ago. 1) In the past, Little Brown Dog Inc. has used the following accounts on their income statement: Revenue, Depreciation Expense, Interest Expense, Rent Expense, Salaries Expense, Advertising Expense, and Supplies Expense. They use the Dividends account to record dividends. Not all accounts have been used each period. 1) Create all necessary journal entries for the month of June 202X. Place your answer under "Requirement 1" in the "Answer" tab. Note that the dates have been pre-populated. Ensure your journal entries match the appropriate date. Explanations are not required. 2) Analyze the effects of the above transactions on the accounting equation. Place your answer under "Requirement 2" in the "Answer" tab. 3) Prepare the Income Statement for the month ended June 30, 202X. List expenses in decreasing order by amount. Place your answer under "Requirement 3" in the "Answer" tab. 4) Prepare the Statement of Retained Earnings for the month ended June 30, 202X. Place your answer under "Requirement 4" in the "Answer" tab." 5) Prepare the Balance Sheet at June 30, 202X. Place your answer under "Requirement 5" in the "Answer" tab. 6) Using the method outlined in the textbook, journalize the necessary closing entries for the month ended June 30, 202X. Place your answer under "Requirement 6" in the "Answer" tab.