create income statement

1. Acquired $20,000 cash from the issue of common stock. 2. Paid $25,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $42,500 cash. 5. Paid $1,500 cash for utilities expense. 6. Paid $30,000 cash for other operating expenses. 7. Paid a $3,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $27,500