Use an excel template to record the following transactions and create financial statements for Year 1. Assume that it is the first year of operations for Golf Ball Bob. Remember to make adjusting entries to transactions that will require yearend adjustments. 1) On 1/1/Y1 The company sells stock for $1,000,000 cash 2) On 1/1/Y1 the company obtains a bank loan for $500,000 (the loan is due in Year 2 and has an interest rate of 10%) 3) Company purchases golf balls (inventory) for cash. The purchase is for 75,000 new Titleist balls at $3 per ball 4) The company hires an employee and pays $40,000 in salaries throughout the year in cash. At December 31, Y1 The employee has earned $5,000 in salary that will be paid in January Year 2. 5) The Company sells 10,000 golf balls on account to customer 1 for $5 per ball. 6) Bob purchases a company vehicle (classified as PP&E) on July 1st year. Bob paid $50,000 cash for the vehicle and depreciates it on a straight-line basis over 10 years. The estimated salvage value at the end of 10 years is $10,000.