UrbanEats Restaurant

Transaction	Description	Amount
1	Issued common stock	$150,000
2	Bought kitchen equipment on credit	$50,000
3	Paid for advertising	$4,000
4	Sold meals on account	$70,000
5	Paid wages	$30,000
6	Collected receivables	$60,000
7	Paid for utilities	$3,000

Requirement: Record transactions, post to the ledger, and prepare an income statement.