The following events apply to Pearson Service Co. for Year 1, its first year of operation: 1. Received cash of $65,000 from the issue of common stock. 2. Performed $127,500 worth of services on account. 3. Paid $86,500 cash for salaries expense. 4. Purchased supplies for $19,500 on account. 5. Collected $100,500 of accounts receivable. 6. Paid $14,500 of the accounts payable. 7. Paid a $6,500 dividend to the stockholders. 8. Had$2,250 of supplies on hand at the end of the period. Required a. Record these events in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. Determine the amount of total assets at the end of Year 1. d. Determine the amount of net income for Year 1. Journal entry worksheet Received cash of $65,000 from the issue of common stock. Note: Enter debits before credits. Post the entries to T-accounts and determine the ending balance in each account. The following events apply to Pearson Service Co. for Year 1, its first year of operation: 1. Received cash of $65,000 from the issue of common stock. 2. Performed $127,500 worth of services on account. 3. Paid $86,500 cash for salaries expense. 4. Purchased supplies for $19,500 on account. 5. Collected $100,500 of accounts receivable. 6. Paid $14,500 of the accounts payable. 7. Paid a $6,500 dividend to the stockholders. 8. Had $2,250 of supplies on hand at the end of the period. Required a. Record these events in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. Determine the amount of total assets at the end of Year 1. d. Determine the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Determine the amount of total assets at the end of Year 1. The following events apply to Pearson Service Co. for Year 1, its first year of operation: 1. Received cash of $65,000 from the issue of common stock. 2. Performed $127,500 worth of services on account. 3. Paid $86,500 cash for salaries expense. 4. Purchased supplies for $19,500 on account. 5. Collected $100,500 of accounts receivable. 6. Paid $14,500 of the accounts payable. 7. Paid a $6,500 dividend to the stockholders. 8. Had$2,250 of supplies on hand at the end of the period. Required a. Record these events in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. Determine the amount of total assets at the end of Year 1. d. Determine the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Determine the amount of net income for Year 1