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The following events apply to Paradise Vacations's first year of operations: 1. Acquired $30,000 cash from the issue of common stock on January 1, Year 1. 2. Purchased $1,300 of supplies on account. 3. Paid $5,400 cash in advance for a one-year lease on office space. 4. Earned $38,350 of revenue on account 5. Incurred $14,000 of other operating expenses on account. 6. Collected $29,000 cash from accounts receivable. 7. Paid $9,500 cash on accounts payable. 8. Paid a $4,000 cash dividend to the stockholders. Information for Adjusting Entries 9. There was $250 of supplies on hand at the end of the accounting period. 10. The lease on the office space covered a one-year period beginning November 1. 11. There was $4,600 of accrued salaries at the end of the period. Required a. Record these transactions In general journal form. b. Post the transaction data from the journal to ledger T-accounts. c. Prepare a trial balance d-1. Prepare an Income statement. d-2. Prepare a statement of changes In stockholders' equity. d-3. Prepare a balance sheet. d-4. Prepare a statement of cash flows.Journal entry worksheet A B C D E F G K Acquired $30,000 cash from the issue of common stock on January 1, Year 1. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journalPrepare an income statement. PARADISE VACATIONS Income Statement For the Year ended December 31, Year 1 Expenses Total expenses 0Prepare a statement of changes in stockholders' equity. PARADISE VACATIONS Statement of Changes in Stockholders' Equity For the Year ended December 31, Year 1 Beginning common stock Ending common stock 0 Beginning retained earnings Ending retained earnings Total stockholders' equity 0Prepare a balance sheet. PARADISE VACATIONS Balance Sheet As of December 31, Year 1 Assets Total assets 0 Liabilities Total liabilities 0 Stockholders' Equity Total stockholders' equity C Total liabilities and stockholders' equity 0Prepare a statement of cash flows. (Cash outflows should be indicated with a minus sign.) PARADISE VACATIONS Statement of Cash Flows For the Year ended December 31, Year 1 Cash flows from operating activities Net cash flow from operating activities 0 Cash flows from investing activities Cash flows from financing activities Net cash flow from financing activities Net change in cash 0 Ending cash balance 0