Legal Services Company Ltd. was formed on July 1, 2017. During the first month of operations, the following transactions occurred. 1. Shareholders invested NT$10,000,000 in cash in exchange for ordinary shares of Legal Services Company Ltd. 2. Paid NT$800,000 for July rent on office space. 3. Purchased office equipment on account NT$3,000,000. 4. Performed legal services for clients for cash NT$1,500,000. 5. Borrowed NT$700,000 cash from a bank on a note payable. 6. Performed legal services for client on account NT$2,000,000. 7. Paid monthly expenses: salaries NT$500,000, utilities NT$300,000, and advertising NT$100,000. Instructions (a) Prepare a tabular summary of the transactions. (b) Prepare the income statement, retained earnings statement, and statement of financial position at July 31 for Legal Services Company Ltd.