1. Determine the amount of owner’s equity (Cecil Jameson’s capital) as of July 1, 2009. 2. State the assets, liabilities, and owner’s equity as of July 1 in equation form similar to that shown in this chapter. In tabular form below the equation, indicate the increases and decreases resulting from each transaction and the new balances after each transaction. 3. Prepare an income statement for July, a statement of owner’s equity for July, and 4. A balance sheet as of July 31, 2009. 5. (Optional). Prepare a statement of cash flows for July