Sparkle Cleaning Services conducted the following transactions:
1.Issued $75,000 in common stock.
2.Purchased cleaning equipment for $25,000 on credit.
3.Paid $1,500 for advertising.
4.Provided cleaning services worth $30,000 (cost $10,000) on account.
5.Paid $12,000 in wages.
6.Received $25,000 from clients.
7.Paid $800 for utilities.
Requirement: Prepare journal entries and create a balance sheet.