Exercise L'Emporda 1. Mr. Albert Pons creates a new business firm to operate a travel agency on October 1, 20X3. He invests 200,000 cash. 2. October 2: He rents an office and pays the rent for the months October, November and December in advance. Rent per month: 2,500. 3. Acquisition of office equipment costing 40,000, payment after 60 days. 4. During the first three month and especially during December, the company sells journeys for 50,000. All sales are immediately collected (cash). 5. At the beginning of December, the company pays the office equipment supplier (see transaction 3). 6. Receives invoices for light, water, telephone and energy for October, November and December for 8,000. The amount due will be paid at January 2, 20X4. 7. The salaries of the personnel amount to 5,000 per month and are paid on the first working day of the following month. Requirements: a) Prepare the Income Statement for Oct. - Dec. 20x3