PLEASE HELP ME WITH THE SOLUTION TO THE PROBLEMS, THANKS.

On January 1st, 2015 eagle golf academy begins operations by offering lessons to junior golfers. The lessons include a variety of skills intended to develop players for atop university golf program and perhaps even one day playing on the Kenya open golf championship. The following transactions took place during January 2015, its first month of operation. Transaction Date 1 Jan 1 2 Jan 1 3 Jan1 4 5 6 7 8 Jan 1 Jan 6 Jan12 Jan17 Jan 23 9 10 Jan 28 Jan 30 External Transaction in January Sell shares of common stock (ordinary share capital) for $ 25,000 to obtain the funds necessary to start the business. The academy is organized as a company and that by investing $ 25,000 in it you are becoming one of its many shareholders or owners. Borrow $ 10,000 at 12% interest per annum from the local bank and sign a note (loan contract) promising to repay the full amount of the debt in three years. Interest is payable at the end of each year (i.e. Dec 31) Purchase equipment necessary for giving golf training, $ 24,000 cash. Pay one year of rent in advance, $ 6,000 ($ 500 per month). Purchase supplies on account (i.e. on credit) $ 2,300. Provide golf training to customers for cash $ 4,300 Provide golf training to customers on account (on credit) $ 2,000 Receive cash in advance for 12 golf training sessions to be given in the future, $ 600. Pay salaries to employees, $ 2,800 Pay cash dividends of $ 200 to shareholders REQUIRED: Determine the effect of each transaction on each of the four principal financial statements i. ii. iii. iv. Income statement Statement of changes in equity Statement of financial position Statement of cash flows (STEP 1 A)