Assignment#3-Four steps to generate the financial statements 1. May1, clinic owner Jill invested $200,000 in cash and office equipment worth $48,000 in the clinic bank account 2. May1st, prepaid $14,400 cash for three month clinic rent. 3. May2nd, made credit purchase of X-ray equipment for $24,000 and medical supplies for $4800 4. May6, completed body check and a surgery for a patient and received $4000 cash. 5. May9, completed a $16,000 surgery for a patient, who will pay within 30 days. 6. May 10, paid balance owed on May2nd. 7. May 19, paid $12,000 cash for the annual liability insurance premium 8. May22, received $12,800 as partial payment for the surgery done on May9. 9. May25, completed consulting services for a patient for $5280 on credit. 10. May31, Jill withdrew $12,400 cash for personal use. 11. May31, purchased $1600 rubbing alcohol on credit. 12. May31, paid $1400 for the monthly utility bill. Please follow the four steps ( Step1 making entries; Step2: T-Acc to add the bal ; Step3 Trial Balance; Step4: Income Statement and Balance Sheet) to generate the financia statements