Shield Inc. is a new small business begun o a leading provider of IT services an s a new small business begun on September 1, 2019, by Tony Stark. The company is ng provider of IT services and communication technology. The following is a selected list ransactions that occurred during the month of September 2019: tember 1: Tony deposited $10,000 in a bank account in the name of Shield Inc. All we company's common shares were issued to him. He paid $500 in legal and related fees to incorporate Shield Inc. and these incorporation costs were considered an expense. September 1: Shield Inc. issued a cheque for $2.400 for an insurance policy for one year beginning September 1, 2019. September 1: Tony presented a business plan to the bank, and the bank loaned Shield Inc. $10,000 which was immediately deposited in Shield Inc.'s bank account. Interest on the loan was 10%, and was payable in six months. September 1: Tony purchased a used car for $7.500, paying cash, to travel to job sites. The expected useful life of the car is 4 years, after which time it will be worth nothing. The straight-line method of depreciation is used. is used. September 4: Shield Inc, signed a contract to provide IT services to a local high school, and received a $100 deposit. September 6: Shield Inc. signed a contract to provide IT services to Wakanda Inc., and received a $500 deposit. September 10: Tony hired Natasha Romanova at a total salary of $2,000 per month. She will start work on September 15th. September 11: Shield Inc. spent all day troubleshooting a network outage at the local high school, and presented an invoice to the principal for $1,500 (less the $100 deposit) at the end of the day. Payment is due in 30 days. September 13: Shield Inc. purchased $2,000 of office supplies on credit. Payment is due within 30 days. Tony said there was $1,200 worth of supplies left on hand at the end of the month of September. September 16 - September 19: Tony and Natasha spent four days setting up new computers for Hulk Automobiles. Tony submitted an invoice for $4,500, due in 30 days. September 22 - September 30: Tony and Natasha spent their time trying to generate new business. Tony paid $400 on gas and oil for the car during September. Moon September 25: Tony and Natasha were called in to Marvel Company to deal with a problem they were having with their network and to install new computers. Tony sent them an invoice for $3,000. Marvel paid 20% cash and the rest was on account, due in 30 days. October 1: Tony and Natasha repainted the car. The paint cost $1,000. Tony will pay the bill when he receives the invoice. October 15: Shield Inc. issued a cheque to Natasha for $2,000 for her September 15 to October 15 salary. IS Required: 1. Prepare all necessary journal entries (including adjusting entries) for the month ending September 30, 2019. (34 marks) 2. Prepare the income statement for the month ending September 30, 2019