Shelton Engineering completed the following transactions in the month of June. a. Shana Shelton, the owner, invested $106,000 cash, office equipment with a value of $6,000, and $45,000 of drafting equipment to launch the company. b. The company purchased land worth $54,000 for an office by paying $5,400 cash and signing a long-term note payable for $48,600. c. The company purchased a portable building with $75,000 cash and moved it onto the land acquired in b. d. The company paid $6,000 cash for the premium on an 18-month insurance policy. e. The company completed and delivered a set of plans for a client and collected $5,700 cash. f. The company purchased $22,500 of additional drafting equipment by paying $10,500 cash and signing a long-term note payable for $12,000. g. The company completed $15,000 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $2,250 of additional office equipment on credit. i. The company completed engineering services for $18,000 on credit. j. The company received a bill for rent of equipment that was used on a recently completed job. The $1,200 rent cost must be paid within 30 days. k. The company collected $7,200 cash in partial payment from the client described in transaction g. l. The company paid $1,500 cash for wages to a drafting assistant. m. The company paid $2,250 cash to settle the account payable created in transaction h. n. The company paid $650 cash for minor maintenance of its drafting equipment. o. S. Shelton withdrew $9,360 cash from the company for personal use. p. The company paid $1,700 cash for wages to a drafting assistant. q. The company paid $3,050 cash for advertisements in the local newspaper during June. Requirement: 1: Prepare general journal entries for the transactions. 2: Post the journal entries to the ledger accounts. 3: Prepare a trial balance as of August 31. 4. Prepare an income statement for August. 5. Prepare a statement of owners equity for August. 6. Prepare a balance sheet as of August 31. 7. Determine the Current ratio, Assets turnover ratio, debt ratio, Equity Ratio, Profit margin ratio as of August 31. Analyze financial position of the company.