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An analysis of the transactions made by Foley & Co., a certified public accounting firm, for the month of August, its first month of operations is shown below. Each change in revenues or expenses is explained.

		Assets							=	Liabilities	+	Stockholders Equity
		Cash	+	Accounts Receivable	+	Supplies	+	Equipment		Accounts Payable		Common Stock		Retained Earnings
									=		+		+	Revenues		Expenses		Dividend
1.		$ 15,000										$ 15,000
2.		2,000						$ 5,000		$ 3,000
3.		750				$ 750
4.		4,900		$ 4,500										$ 9,400					Service Revenue
5.		1,500								1,500
6.		2,000																-$ 2,000
7.		850														$ 850			Rent Expense
8.		450		450
9.		3,900														3,900			Salaries/Wages Expense
10.										500						500			Utilities Expense

Prepare a balance sheet at August 31, 2017. (List Assets in order of liquidity.) ????????

Foley & Co. Income Statement For the Month Ended August 31, 2017 Revenues Service Revenue 9400 Expenses Rent Expense $ 850 Salarles/Wages Expense 3900 Uellitles Expense 500 Total Expenses 5250 Net Income /(LOSS) $ 4150 Foley & Co. Retained Earnings Statement For the Month Ended August 31, 2017 Retained earnings, August 1 $ 0 Add : Net Income /(Loss) 4150 4150 Less : Dividends 2000 Retained earnings, August 31 V $ 2150 Prepare a balance sheet at August 31, 2017. (List Assets in order of liquidity) Foley & Co Balance Sheet August 31, 2017 Assets $ 28150 Accounts Receivable 4050 Supplies 750 Eguipment 5000 Total Assets $ 37950 Liabilities and Stockholders' Equity Lab Accounts Payable $ 2000 Stockholders Equity Common Stock S 15000 Retained Earnings 2.150 Total Stockholders' Equity 17150 Total bland Stockholders' Equity $ 19150

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