create the journal entries

a) (8 points) You started last year with the following initial financial portfolio: Stocks, 3% dividend yield $600,000 $300,000 Municipal Bonds, 2% yield @ par Cash (no interest) $100,000 $1,000,000 Financial Net Worth Last year you earned $350,000 in wages and spent $200,000. You pay 30% ordinary income taxes on your wages and 20% on your dividends and capital gains. Your municipal bonds (untaxed) are still at par, while your stock portfolio had a fully realized capital gain of 12%, which has been reinvested in the stock market. Your wages, bond and stock yields go into your cash account.