Part II - Prepare the following two Financial Statements (4 points) Q.II.1 Do a Statement of Financial Position (Balance Sheet) at the end of January (2 points) Q. 11.2 Do a Statement of Financial Performance (Income Statement) for the month of Jan. (2 points) Answer all questions. There are two parts and 20 points in total. You have 2h. Simple non-programmable calculators are allowed. Part 1 - The Accounting Process - Journal entries (16 points) Q. 1.1 XYZ is a Bicycle Repair business Record the following transactions in a Journal (2 points for each transaction): T1: Jan 1 XYZ issues 3 000 shares of Capital Stock at 10 each for Cash. T2 various dates in Jan XYZ repaired bikes (Service Revenue) and received Cash 3 200. T3: Jan 2 XYZ buys Equipment for 10 000 paid cash; life 50 months. T4: Jan 15 XYZ pays Rent Expense for January in Cash 1 000. TS: Jan 20 customers paid 300 cash in advance for service to be rendered in February T6: Jan 31 XYZ records Depreciation Expense for the Equipment asset. T7: Jan 31 XYZ pays tax at 25% in cash on income in January. T8: Jan 31 XYZ declares 1 000 in cash dividends to be paid in 15th Feb. Part II - Prepare the following two Financial Statements (4 points) Q.11.1 Do a Statement of Financial Position (Balance Sheet) at the end of January (2 points) Q. 11.2 Do a Statement of Financial Performance (Income Statement) for the month of Jan. (2 points)