the instructions avove relate to all of the charts below

Problem #2: On May 1, Huck, Inc. was established. The following transactions were completed during the month: 1. Shareholders invested $40,000 cash in the company in exchange for common stock. 2. Borrowed $15,000 cash from their bank, payable in 6 months. 3. Paid $900 cash for May office rent. 4. Purchased office equipment for $4,300 cash. 5. Purchased $250 of advertising in the newspaper, on account 6. Paid $500 cash for office supplies. 7. Performed services worth $14,000. Cash of $3,000 is received from customers, and the balance of $11,000 is billed to customers on account. 8. Pald $500 cash dividend. 9. Paid employees' salaries $2,000. 10. Received $7,000 in cash from customers billed previously transaction (7). Required: a. Journalize the above transactions. b. Post the journal entries to the general ledger using T-Accounts. c. Prepare an Income Statement, Statement of Shareholders' Equity, and Balance Sheet for May 31. a. Journalize the above transactions. b. Post the journal entries to the general ledger using T-Accounts. c. Prepare an Income Statement, Statement of Shareholders' Equity, and Balance Sheet for May 31. Accounts Dabr Credit 1 2 3 5 8 7 8 9 10 Cash Accounts Receivable Supplies Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Revenue Salaries Expense Rent Expense Advertising Expense Dividends Huck, Inc. Income Statement For the Year Ended May 31 Service revenue... Salaries expense Rent expense. Advertising expense... Net income Huck, Inc. Statement of Retained Earnings For the Year Ended May 31 Beginning balance, May 1 $ Net income Dividends Ending balance, May 31 Huck, Inc. Balance Sheet As of May 31 Assets Liabilities and Shareholders' Equity Cash Accounts receivable....... Supplies. Office Equipment Notes payable Accounts Payable Common stock Retained earnings... Total liabilities and shareholders' equity.... Total assets