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Required: A. Record the above transactions in General Journal (Journal Entries). B. Record the transactions in General Ledger format (T-Accounts). C. Prepare a Trial Balance for Techno Engineering Company D. Prepare Income Statement. E. Prepare Retained Earnings Statement F.Prepare Balance Sheet. G.Prepare a Cash Flow Statement

Assume the following: Lomo Engineering Company had the following transactions: Jan-01 Issued capital stock for $965,000 Jan-01 Purchased a Packaging Equipment for $20,000. Jan-01 Purchased an Insurance Policy (1 year) for $30,000. Jan-03 Purchased a Machine, paying $15.000 in cash and issuing a note of $20.000. Jan-05 Purchased $28,000 of inventory on account. Jan-07 Sold inventory costing $6,000 for $50,000 on account. Jan-11 Paid $2,000 for inventory purchased on account (from Jan-05). Jan-15 Collect $12.550 of accounts receivable from customers (from Jan-07). Jan-17 Paid utility bills totaling $1,500. Jan-23 Paid wages for $13,000. Jan-25 Collect $8,000 in bank interest. Jan-30 Paid $12.590 due to income taxes. Required: A. Record the above transactions in General Journal (Journal Entries). B. Record the transactions in General Ledger format (T-Accounts). C. Prepare a Trial Balance for Techno Engineering Company. D. Prepare Income Statement. E. Prepare Retained Earnings Statement. F. Prepare Balance Sheet G. Prepare a Cash Flow Statement