Summary of the First Year of Operations for ABC Company are given below. ABC Company - First year accounting events T1 issues common stock and receives $100,000 of cash T2 buys a building and pays $20,000 cash T3 buys inventory on account that is valued at $10,000 T4 Sells inventory that cost $2000 for $6000 on account (Hint: two transactions and entries) T5 collected $4000 of the $6000 of accounts receivable T6 records of $1000 building depreciation T7 pays $6000 to reduce accounts payable to vendors T8 creates income summary by closing depreciation and cost of sales accounts and closes income summary into retained earnings account. Instruction: Prepare Income statement and Balance Sheet for ABC Company