The following transactions were made during the first month (August 2021) of a sole proprietor's Business operation: business operation: Date Transaction Aug. 1 Mr.X started a computer shop and invested P300,000 cash as initial capital. Aug. 1 paid P6,000 for shop rent applicable for one month. Aug. 5 Bought computer shop supplies worth P4,950. Aug. 6 bought 4 desktop computers for P32,500 each Aug. 10 bought 2 printers on account (credit terms) from Mr. M, worth P10,000 each Aug. 15 paid electric bill- P3,500 Aug. 25 Received P35,000 in cash for computer services Aug. 30 paid technician's salary for the month, 12,000 Prepare an income statement for the month of August 2021