Nature's Bounty Farms

Transaction	Description	Amount
1	Issued common stock	$200,000
2	Bought agricultural equipment on credit	$70,000
3	Paid for advertising	$5,000
4	Sold crops on account	$120,000
5	Paid wages	$35,000
6	Received cash from customers	$90,000
7	Paid for office supplies	$3,000

Requirement: Record transactions, post to the ledger, and prepare an income statement.