I need help on this project, I am struggling with my accounting class and the instructor has offered 10 points in credit to complete the balance sheet and income statement.

I am working the project, but want to have someone complete it as well to check my work...make no mistake, I still need to understand the balance sheet and income statement for my next test so I care that I am on the right track more than the 10 points, however, they will help.

Type your name here: 10 pt. Bonus Project must be submitted by the due date of October 18th 11:59 pm CT. No bonus projects will be accepted after the due date. If you have questions, please email me. I do not pre-grade, so please do not send your solution for me to review. The bonus project relates to material covered in Modules 2 and 3. Please type your name in at the top of this page and save your file using your initial of your first name and your complete last name. Submit by uploading to the Bonus Project link. Problem 1: On September 1st ABC Corporation was started, which is a hardware retailing company. Following are transactions for its first month of business. 1. Shareholders contributed cash of $155,000 to the company in return for common stock. 2. The company purchased equipment in the amount of $50,000, paying $10,000 cash and signing a note payable to the equipment manufacturer for the remaining balance. 3. The company purchased inventory for $80,000 cash in September. 4. The company had September sales of $100,000 of which $60,000 was for cash and $40,000 on credit. Total cost of goods sold for its September sales was $70,000. 5. The company purchased future advertising time from a local radio station for $10,000 cash. 6. During September, $7,500 worth of radio spots were purchased in transaction 5 are aired. The remaining spots will be aired in October. 7. Employee wages earned and paid during September total $17,000 cash. 8. Need to make an adjustment, since before end of September employees earned an additional $1,000 in wages that will be paid in the next period. 9. The company recorded $2,000 of Depreciation for September relating to its equipment. Required: a. Record the effect of each transaction using the financial statement effects template set up below. Make sure you show the appropriate account titles, increase+ or decrease-, and amount. Look at the example on page 3-13. b. Prepare the September Income Statement and Balance sheet as of the end of September for ABC Corporation using the template set up for each statement below. Review page 3-16 for an example of these statements, but the content of the statements will not be exactly the same, since there are differences in the transactions that occurred in this company versus the example in the textbook. a. Balance Sheet Income Statement Transactio Cash Noncash Liabil- Contrib. Earned RevExpenNet + = + + - = n Asset Assets ities Capital Capital enues ses Income 1. Received $155,000 cash for common stock from shareholde rs. 2. Purchased $50,000 of equipment, for $10,000 cash and $40,000 note payable 3. Purchased $80,000 of inventory for cash 4. Sold Inventory for $60,000 cash and $40,000 on credit, cost of inventory $70,000 Transaction Balance Sheet Income Statement Cash Noncash Liabil- Contrib. Earned RevExpense Net + = + + - = Asset Assets ities Capital Capital enues s Income 5. Paid $10,000 cash for future advertising time 6. $7,500 of advertising time in transaction 5 is aired 7. Employees paid $15,000 cash in wages 8. Employees earn $1,000 in wages not yet paid 9. Record depreciation of $2,000 on equipment* Ending Balances * PPE, net = Equipment, gross less Accumulated Depreciation. b. ABC Corporation Income Statement For Month Ended September 30 ABC Corporation Balance Sheet September 30