Course:Date:Problem P1-1B, Analyze transactions and compute net income.Financial and Managerial Accounting by Weygandt, Kieso, and KimmelPrimeron Using Micrsoft Excel in Accounting by Rex A SchildhouseProblem P1-1B, On April 1, Holly Dahl established Holiday Travel Agency. The following transactions were completed during the month:1. Stockholders invested cash in the business in exchange for common stock.$10,0002. Paid cash for April office rent$4003. Purchased office equipment for cash$2,5004. Incurred advertising costs in the Chicago Tribune, on account$3005. Paid cash for office supplies$606. Earned$8,500 for services rendered:$2,000cash is received form customers, and the balance of$6,500is billed to customers on a7. Declared and paid cash dividends$2008. Paid Chicago Tribune amount due in Transaction (4).9. Paid employees' salaries and wages$2,20010 Received$5.700whoave previously been billed in transaction (6)