Oracle Corporation had the following transactions in February 2025:

1. Issued shares worth $300,000.
2. Purchased raw materials for $80,000 on account.
3. Paid $40,000 in salaries.
4. Sold finished goods for $140,000 (70% on credit).
5. Received $80,000 from debtors.
6. Paid $40,000 to creditors.
7. Depreciation expense for the month was $7,000.

Requirements:

1. Record the transactions in the appropriate ledger accounts.
2. Prepare a trial balance as of February 28, 2025.
3. Construct an income statement for the month ended February 28, 2025.