Question 1 Maury Wills started an environmental consulting business & during the first month of operations (June 2008) completed the following transactions: Wills began the business with an investment of $25,000 cash and a building valued at $30,000. a) The business gave Wills the owner's equity in the firm b) Purchased office supplies on account, $2,100 Paid $18,000 for office furniture c) Paid employee's salary, $2,200 Performed consulting service on account, $5,100 d) e) f) g) Paid $800 on the account payable created in transaction (b) Received a $600 bill for advertising expense that will be paid in the near future h) i) Performed consulting service for customers and received cash, $1,600 Received cash on account, $1,200 Paid the following cash expenses and made a single compound entry: ) Rent on equipment, $700 i) Utilities, $400 Withdrew $3,000 for personal use k) Required: 1. Prepare the income statement and statement of owner's equity for Wills Environmental Consulting for the month ended June 30, 2008 and a balance sheet as at that date