The Johnson Drafting Company was started on March 1 to draw blueprints for building contractors. The following transactions of the company occurred during March: 00w M. Johnson, the owner state the business by Investing $14,000 cash. Land and a small office building were purchased at a cost of $4,000 and $20,000 respectively. A down payment of $8,000 was made and a note for $16,000 was signed. The note is due in one year. Cash of $4,800 was paid to purchase computer drafting equipment. Drafting supplies totaling $850 was purchased on credit. The amount is due in early April. The company collected $1,500 from contractors for drafting services performed. M. Johnson withdrew $1,000 for personal use. The company received a $110 utility bill for March to be paid in April. The company paid $600 in salary to a drafting employee. The company billed contractors $2,000 for drafting services performed during the last half of March The company recorded the following adjustments: a. Depreciation of $80 on the office building. b. Depreciation of $100 on computer drafting equipment c. Interest of $160 on the note payable. d. Drafting supplies used of $150. 10 Required: 1. Prepare journal entries for the above transactions. 2. Summerize the transactions in T Accounts. 3. Prepare a Trial Balance. 4. Prepare the 4 financial statements