ONLY PART D The following events apply to Pearson Service Co$.$ for Year $1,$ its first year of operation:

Received cash of $$64,000$ from the issue of common stock.

Performed $$125,000$ worth of services on account.

Paid $$85,000$ cash for salaries expense.

Purchased supplies for $$19,000$ on account.

Collected $$99,000$ of accounts receivable.

Paid $$14,100$ of the accounts payable.

Paid a $$6,400$ dividend to the stockholders.

Had $$2,200$ of supplies on hand at the end of the period.

Required

a$.$ Record these events in general journal form.

b$.$ Post the entries to T$-$accounts and determine the ending balance in each account.

c$.$ Determine the amount of total assets at the end of Year $1.$

d$.$ Determine the amount of net income for Year $1.$

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Determine the amount of net income for Year $1.$