Accounting (activities over the month of March): i) Capital stock issued: $20,000 ii) Office equipment bought (and paid for in cash): $1,500 iii) Production consumables purchased in cash: $1,200 iv) Raw material purchased (on credit): $3,000 v) Production machinery purchased Long Term Note: $8,000 vi) Sale of finished goods (in cash) $8,700 vii) Sale of finished goods (on credit) $3,100 viii) Utilities (paid in cash): $1,200 ix) Wages and salaries paid in cash to employees: $2,500 x) Part payment to supplier (toward transaction iv) $1,000 You are required to: (1) Summarize and post the above transactions. (2) Prepare an income statement for the transactions during month of March. (3) Prepare a balance sheet as on March 31. I-Breakeven Analysis: A bookseller sells each book for $15, fixed costs are $15,000 a year, and variable costs are $10 per book. (a) What is the breakeven point for the book sales? (b) If 240 books are sold in the first month, approximately how many books would have to be sold in each remaining month to breakeven for the month? (c) If the bookseller sells 3,721 books the year, how much profit does the bookseller make