Accounting: a. Capital stock issued: $40,000 b. Office equipment rented (and paid for in cash): $2,000 c. Office supplies purchased (and paid in cash): $1,000 d. Cleaning supplies (bought on credit): $1,200 e. Land and building purchased on a L.T. note: $30,000 f. Utilities (paid in cash): $1,200 g. Salaries paid in cash to employees: $6,000 h. Sales revenues: $17,500 i. Advance collected from customers: $3,000 j. Sales made on credit to customers: $3,500 You are required to: (1) Summarize and post the above transactions (2) Prepare an income statement (3) Prepare a balance sheet