Prepare an income statement and a balance sheet with the transactions below month ending July 2017 for strand corp

Transactions:
1	Strand invested $25,000 in the business in exchange for common stock
2	Strand purchased equipment costing $10,000 by borrowing from the bank
3	Strand sold $100,000 worth of consulting services on account
4	Strand paid Wages of $50,000 and Rent of $25,000
5	Strand purchased $2,000 of supplies on account
6	Strand collected $75,000 from customers sold to on account (#3 above)
7	Strand paid the bank 50% of what they owed them