1. Intel Corporation issues preferred stock worth $65,000,000.
2. Intel Corporation purchases raw materials on credit for $7,500,000.
3. Intel Corporation sells semiconductors for $35,000,000 in cash.
4. Intel Corporation pays $5,000,000 for manufacturing expenses.
5. Intel Corporation pays $4,200,000 in wages.
6. Intel Corporation receives $3,000,000 in cash for services rendered.
7. Intel Corporation buys manufacturing equipment for $7,000,000 cash.
8. Intel Corporation incurs $2,000,000 in research and development expenses.
9. Intel Corporation declares and pays dividends of $4,000,000.
10. Intel Corporation records $2,000,000 in depreciation expense.

Record those transactions in a journal.

Prepare a trial balance.

Prepare an income statement for the year ended.

Prepare a balance sheet for the year ended.