The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $31,000 from the issue of common stock 2. Performed $50,000 of services on account. 3. Incurred $6,900 of other operating expenses on account. 4. Paid $23,000 cash for salaries expense 5. Collected $35,500 of accounts receivable. 6. Paid a $3,200 dividend to the stockholders. 7. Performed $9,700 of services for cash. 8. Paid $5,700 of the accounts payable. Required a. Record the preceding transactions in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. & d. Determine the amount of total assets at the end of Year 1, and the amount of net income for Year 1