Martin Company had the following transactions during its first month of operations: < June The company received cash of 35,000 and issued common stock to the shareholders. < 2 Borrowed 20,000 from the bank and signed a long-term note payable. < 8 Purchased equipment with a short-term note payable for 10,000. < 9 Performed services billed at 3,000 and received cash of 3,000. < 10 Performed services for a client on account, 6,500. < 12 Employees worked two weeks and were paid salaries of 1,000. < 15 Paid the short-term note payable from the June 8 purchase. < 22 Purchased office supplies on account for 7,000. < 30 Paid amount due for office supplies. < 30 Paid June's monthly rent of 500. < 30 Paid the monthly income taxes of 2,200. < 30 The Board of Directors declared and paid dividends of 1,000. < Required: + A. Create Journal Ledger for the Martin Company. Write the narration with the entries. B. Prepare a single-step income statement for the first month of operations. Include a proper heading.