CAU company have the following Transactions

1. Owners Contributed $100,000 on the company
2. CAU Sold items worth $120000 Cash
3. CAU Sold items Work $70000 on Account
4. CAU Paid Employees salaries of $ 23,000
5. CAU Paid Rent for $ 5500
6. CAU bought inventory on Account worth $21,000
7. CAU paid insurance in advance covering the next 12 month

Please Prepare the Journal Entries and Income Statement