Sigma Health started operations on January 1, Year 1. Below are the transactions for the first year:

Transaction #	Date	Transaction Description	Amount
1	Jan 1, Y1	Issued common stock for cash	$150,000
2	Jan 10, Y1	Purchased medical supplies on account	$25,000
3	Feb 1, Y1	Paid cash for employee salaries	$50,000
4	Mar 5, Y1	Paid cash for office rent	$20,000
5	Apr 1, Y1	Provided medical services on account	$90,000
6	Jun 1, Y1	Collected cash from patients	$85,000
7	Sep 1, Y1	Paid cash for utilities	$8,000
8	Dec 31, Y1	Declared and paid cash dividends	$12,000

Required:

1. Prepare the journal entries for each transaction.
2. Prepare the income statement and balance sheet for the year ended December 31, Year 1.
3. Prepare the statement of stockholders' equity for the year ended December 31, Year 1.