QUESTION 1 (20 POINTS) Record the following transactions of Knights Drone Services, owned by Dee Knights, for the month of March 2021. March 1. Dee Knights invested $3,000 cash in exchange for common stock. March 15. Knights provided services and received cash amounting to $5,400 from customers. March 16. Purchased supplies on account, $100. March 17. Paid for gas and oil, $800. March 18. Paid salaries, 5,000. March 21. Provided service on credit, $600. March 28. Knights provided services and received cash amounting to $6,000. March 29. Paid for truck and equipment rental, $2,500. March 30. Knights Drone Services paid dividends of $2,000. INSTRUCTIONS: 1. Record the above transactions in general journal form. 2. Prepare a trial balance after posting the entries to t-accounts (you can make your own t- accounts). 3. Prepare an income statement from trial balance. 4. Prepare a statement of retained earnings from the trial balance and income statement. 5. Prepare a balance sheet using the trial balance totals and the statement of retained earnings. 6. Explain why the company's cash balance does not agree with net income