Please show all aspect of the financial statement and report account balances

Recording Transactions: [19328092090519] Magic Company (the firm] was formed on August 1, Year 1, when four owners each invested $16,000 cash. Also on August 1, Year 1, another person lent $25,000 cash to the firm to be repaid in full along with $3,000 in interest on August 1, Year 2. During Year 1, the firm purchased supplies inventory on account at a cost of $2,500. In Year 1, 80% of supplies purchased had been used. By December 31, Year 1, Magic had made payments for 75% of the supplies purchased. In September, Year 1, Magic collected $205,000 from its first client. Magic formed $170,000 of services for this client in Year 1. The difference represents work Magic will perform in Year 2 as the parties agreed. During November, Year 1, Magic started work for its second client. The firm completed $160,000 of work for this new client in Year 1. By the end of Year 1, this client had paid Magic $145,000. The parties agreed the balance would be paid to Magic in Year 2 Magic hired five consultants at a monthly salary of $3,000 each. These five consultants worked for the firm from August 15th, Year 1, until December 31, Year 1. The firm pays its employees on the 20th of each month for period ended on that day. The first payday on August 20 will be for one-sixth of one month. The firm rented some equipment on August 15, Year 1. Magic paid for two years in advance in order to get its best deal. The firm paid $4,800 covering twenty-four months that started on August 15, Year 1. During Year 1, the firm used up utilities with a value of $2,200. By the end of Year 1 the firm paid for 90% of all utilities consumed. The firm rented and moved into an office space on August 15, Year 1, at a monthly cost of $4,000. The two-year contract with the landlord required that the rent be paid on February 15 and August 15 for the six-month periods ending on those dates. The first such payment is required on February 15, Year 2. All rent payments were or will be made as required. Required: Determine the proper accounts and amounts that the firm would report in the financial statements prepared at December 31, Year 1. Calculations not required. You should use the template provided on the next page to report your account balances. Familiar accounting titles are provided. You need only submit your second page legibly handwritten acceptable. Magic Company Balance Sheet December 31, Year 1 Assets: Cash Pod Eo Rent Supplies Liabilities: Int Pay Un. Rev Sal. Pay Utils Pay Off Rent Pay Owners' Equity: Cont. Capital Liab & Income Statement For Five Months Ended 12/31/Yr 1 Revenues: Expenses: Salaries Off Rent Supplies utils Interest Eq rent Total Income