Analyzing the effects of Business Transactions: ABC Company was established on December 1 and during December, ABC entered into the following transactions (in lakhs): December 1-Issued INR 30,000 equity shares in exchange for cash. December 3-Purchased INR 500 of supplies (inventory) on account. December 7-Prepaid INR 2,500 total for January, February and March rent December 8-Paid INR 275 towards the December 3 purchase of supplies December 11-Billed customers INR 5,780 for services rendered December 12-Paid INR 1,000 for salary to employees December 25-Received INR 5,500 from customers billed on December 11 December 28-Paid INR 200 in dividends to stockholders December 29-Paid INR 2,000 for December rent December 29-Paid INR 760 for December utilities For this question prepare the transaction statement as discussed in class/monopoly sessions. Also prepare the income statement and the Balance sheet)