Nike Inc. had the following transactions in October 2023:

1. Issued shares worth $200,000.
2. Purchased raw materials for $60,000 on account.
3. Paid $25,000 in salaries.
4. Sold finished goods for $90,000 (80% on credit).
5. Received $50,000 from debtors.
6. Paid $15,000 to creditors.
7. Depreciation expense for the month was $4,000.

Requirements:

1. Record the transactions in the appropriate ledger accounts.
2. Prepare a trial balance as of October 31, 2023.
3. Construct an income statement for the month ended October 31, 2023.