Preparation of Financial Statements. During the first month of operations in December 2018, the Accounting Entrance Exam (AEE) Company engaged in the following transactions: - 12/02 Borrowed $50,000 from a local bank and signed a note payable in the name of the business. - 12/04 Paid cash of $30,000 to acquire land. - 12/09 Performed services for a client and received cash of $15,000. - 12/12 Purchased office supplies on account, $500. - 12/15 Performed services for a client on account, $8,600. - 12/17 Paid $1,500 on account. - 12/20 Paid the following expenses with cash: Salaries, $3,000; rent, $1,500; and interest, $400. - 12/24 Received $3,100 from a client on account. - 12/27 Received a $2,500 utility bill that will be paid in January. - 12/29 Received $1,500 for services to be rendered in January. - 12/30 Cash dividends of $2,200 were paid to stockholders. Requirements 1. Use the T account format to enter each transaction. 2. Journalize each transaction. 3. Prepare the income statement for the month ended December 31. 4. Prepare the statement of retained earnings for the month ended December 31. 5. Prepare the balance sheet statement as of December 31