27 The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $34,000 from the issue of common stock. 2. Performed $53,000 of services on account. 3. Incurred $7,500 of other operating expenses on account. 4. Paid $26,000 cash for salaries expense. 5. Collected $37,000 of accounts receivable. 6. Paid a $3,500 dividend to the stockholders. 7. Performed $10,000 of services for cash. 8. Paid $6,000 of the accounts payable. Save & Exit Submit Required a. Record the preceding transactions in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. & d. Determine the amount of total assets at the end of Year 1, and the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Reg A Req B Req C and D