1. General Electric Company issues common stock worth $70,000,000.
2. General Electric Company purchases raw materials on credit for $20,000,000.
3. General Electric Company sells industrial equipment for $60,000,000 in cash.
4. General Electric Company pays $15,000,000 for manufacturing expenses.
5. General Electric Company pays $12,000,000 in wages.
6. General Electric Company receives $8,000,000 in cash for services rendered.
7. General Electric Company buys manufacturing machinery for $25,000,000 cash.
8. General Electric Company incurs $5,000,000 in marketing expenses.
9. General Electric Company declares and pays dividends of $10,000,000.
10. General Electric Company records $6,000,000 in depreciation expense.

1. Record those transactions in a journal.
2. Prepare a trial balance.
3. Prepare an income statement for the year ended.
4. Prepare a balance sheet for the year ended.