There are $2$ parts to this assignment Survivor Limited AND the #$1-$ #$10$ journal entries.Survivor Limited $($SL$)$ was incorporated and commenced operations on January $1,2023.$ JeffProbst, the company's only employee, consults with various clients and uses expensiveequipment to complete his work. When the company was formed, Jeff bought $1,000$ commonshares. At the beginning of $2024,$ another $500$ common shares were sold to Boston Rob.In addition to selling shares, SL received financing $($a loan$)$ on January $1,2023$ from ParvatiShallow. Parvati required the company to pay only the interest on the loan and no principal in$2023,$ which SL did. However, Parvati wanted both interest and a portion of the principal to bepaid during $2024.$ These payments were made evenly throughout $2024.$ Parvati was surprisedwhen SL paid down more of the loan balance in $2024$ than was asked for.The following shows the financial statements of the company for the past two years:Survivor LimitedIncome StatementFor the year Ended December $3120242023$Service revenue $$220,000$ $$150,000$Operating expenses:Salaries expense $$140,000$ $$85,000$Rent and other office expenses $33,00027,000$Depreciation expense $26,25018,750$Interest expense $7,8008,900$Total operating expenses $$207,050$ $$139,650$Income before income tax $12,95010,350$Income tax $3,8853,105$Net income $ $9,065$ $ $7,245$Survivor Limited, continuedSurvivor LimitedBalance SheetAs at December $3120242023$AssetsCurrent assetsCash $ $15,770$ $ $29,095$Accounts receivable $40,00010,000$Total current assets $55,77039,095$Equipment $175,000125,000$Accumulated depreciation $(45,000)(18,750)$Total non$-$current assets $130,000106,250$Total assets $$185,770$ $$145,345$Liabilities and Shareholders EquityLiabilitiesCurrent liabilitiesAccounts payable $ $39,460$ $ $13,100$Current portion of loan payable $10,00015,000$Total current liabilities $$49,460$ $$28,100$Loan payable $60,00075,000$Total liabilities $$109,460$ $$103,100$Shareholders EquityCommon shares $$60,000$ $$35,000$Retained earnings $16,3107,245$Total shareholders equity $$76,310$ $$42,245$Total liabilities and shareholders equity $$185,770$ $$145,345$Survivor Limited, continued Please upload this as question $1(1)$ When the company was formed, how much $($in dollars$)$ did Jeff pay for his shares?$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(2)$ How much $($in dollars$)$ did Boston Rob pay for his shares?$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(3)$ At the end of $2023,$ what portion of the loan did Parvati want paid off in $2024?\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(4)$ How much of the loan was actually paid off in $2024?\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(5)$ What was the total amount of cash received by Parvati in $2023?\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(6)$ What was the total amount of cash received by Parvati in $2024?\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(7)$ Calculate the current ratio for each year. Has the company's liquidity improved ordeteriorated $($is the change favourable or unfavourable$)?20242023$ Favourable $($F$)$ orUnfavourable $($U$)$Current ratio$(8)$ Calculate the debt to total assets ratio for each year. Did the company's solvency improveor deteriorate $($is the change favourable or unfavourable$)?20242023$ Favourable $($F$)$ orUnfavourable $($U$)$Debt to total assetsJournal Entries, page $1$ Please upload this as question $2$Prepare journal entries for the following transactions. If no entry is required please note noentry. No journal entry descriptions are required. A sample chart of accounts is available ineClass. Please consider each transaction as independent, unless otherwise noted.Transaction $-$ Please consider each transaction as independent, unless otherwise noted$\mathrm{.}1.$ Purchased a computer for $$2,200$ on credit $($on account$)\mathrm{.}2.$ Declared and paid cash dividends of $$600$ to shareholders$\mathrm{.}3.$ Signed a rental contract for $$850$ per month. The rental term starts one month from now$\mathrm{.}4.$ Received cash of $$750$ for services to be provided next month$\mathrm{.}5.$ Paid the $$250$ telephone bill for the current month.Journal Entries, page $2$ Please upload this as question $3$Transaction $-$ Please consider each transaction as independent, unless otherwise noted$\mathrm{.}6.$ Purchased office equipment $($desk and chair$)$ for $$1,500$ paying cash of $$500$ and theremainder on account$\mathrm{.}7.$ Invoiced customers for services provided of $$20,000\mathrm{.}8.$ Received $$1,000$ cash on account $($received $$1,000$ of the $$20,000$ invoiced in #$7)\mathrm{.}9.$ Paid $$2,200$ on account $($Paid for the computer purchased in #$1)\mathrm{.}10.$ Purchased a building for $$500,000$ by signing a bank loan.