prepare all financial statements. please show corresponding journal entry.

4 We start a new business (Paintball!), and engage in the following transactions during our first month of operations. 5 1) Issued common stock to equity investors for $10,000. 6 2) Rented a building for 3 months for $1,200. 7 3) Purchased land for paintball battles for $4,000. 8 4) Hired an employee, agreed to pay $800 per month, at the end of each month. 9 5) Sold services for $2,500 cash. 10 6) Sold services for $3,000 for cash and on account 11 7) Collected half of what our customers owe us on account. 12 8) Paid our employee at the end of the month. 13 Exercise: Create the balance sheet, income statement, and statement of retained earnings for our 14 company at the end of month one. 15