The following events apply to Montgomery Company for Year 1, its first year of operation: Received cash of $41,000 from the issue of common stock. Performed $60,000 of services on account. Incurred $8,900 of other operating expenses on account. Paid $33,000 cash for salaries expense. Collected $40,500 of accounts receivable. Paid a $4,200 dividend to the stockholders. Performed $10,700 of services for cash. Paid $6,700 of the accounts payable. Required a. Record the preceding transactions in general journal form. b. Post the entries to T-accounts. c. & d. Determine the amount of total assets at the end of Year 1, and the amount of net income for Year 1