Use the following accounts and information to prepare, in good form, an income statement and a retained earnings statement, for the month of August and a balance sheet at August 31, 2014 for Pierce Industries. 
Definitions:
Adaptation
The social system must be able to gather and distribute sufficient resources and adjust to changes in its environment.
Goal Attainment
The system needs to establish clear goals and priorities.
Sympathetic Introspection
A methodological approach in which the researcher tries to understand the feelings and perspectives of others by mentally placing themselves in the other's position.
The Looking Glass Self
A sociological concept that suggests an individual's self grows out of society's interpersonal interactions and the perceptions of others.
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