Strand Corp started an accounting-exam consulting business for wayward accounting students on July 1, 2021 and for the month had the following transactions: 1. Started the company with a $170,000 investment in return for stock 2. Sold consulting services for $300,000, 50% on account, the remainder for cash 3. Purchased office supplies of $10,000 on account 4. Paid wages, $120,000 5. Purchased a computer system for $15,000 by putting 10% down and borrowing the remainder from the bank 6. Collected $125,000 from customers previously sold to on account 7. Paid the bank 50% of what was owed them 8. Paid the following expenses: a. Utilities- $25,000 b. Rent- $60,000 c. Insurance- $15,000 9. Paid dividends of $2,000 10. Additional investment in the company was made for $80,000 REQUIRED: 1. Using the Balance Sheet Equation (A=L+E), account for the transactions above (20pts) 2. Calculate ending account balances to prove that A=L+E (4pts) 3. Prepare an Income Statement in proper form (6pts) 4. Prepare a Balance Sheet in proper form (10pts)