HIJ Ltd. has the following transactions for December 2023:

1. December 3: Issued 2,000 shares of common stock for $30,000.
2. December 10: Purchased inventory for $8,000, paying $3,000 in cash and the rest on credit.
3. December 17: Sold goods costing $4,000 for $7,500 on account.
4. December 24: Paid $1,800 for rent.
5. December 31: Collected $5,000 from customers on account.

Requirements:

1. Journalize the transactions.
2. Post the entries to the general ledger.
3. Prepare a trial balance as of December 31, 2023.
4. Prepare an income statement for December 2023.
5. Evaluate the company's profitability based on the income statement.