Vertigo Company was organized on January 1, 2020. It is authorized to issue 117000 shares of $120 par value common stock. At the beginning of April, the ledger of Vertigo Company carried the following balances to their respective accounts. Cash-$57000, Merchandise Inventory- $75300, Prepaid Insurance-$5000, 10% Notes Payable-$25400, Equipment-$143000, Accumulated Depreciation: Equipment-$3300, Common Stock-$127000, Paid in capital in excess of par value: Common Stock-$24000, and Retained Earnings-$100600. The following transactions took place in Vertigo Company during April of the current year (2020). April 1 - Issued 2600 new shares of common stock for $340000 April 3 - Purchased merchandise of $7600 on account from Prescott Co., terms FOB destination, 3/10, n/30. The appropriate party paid the freight charge of $280. April 4 - Sold merchandise for cash, $82500. The cost of the merchandise sold was $51000. April 5 - Purchased merchandise on account from Stafford Co., $23000, terms FOB shipping point, 3/10, n/30. The appropriate paid the freight charge of $720. April 6 - Returned $590 of merchandise purchased on April 3 from Prescott Co. April 13 - Paid Prescott Co. on account for purchase of April 3. April 15 - Paid Stafford Co. on account for purchase of April 5. April 17 - Purchased merchandise for cash $1500. April 20 - Received refund for poor quality merchandise from supplier on cash purchase $190. Additional Information on Vertigo Company: A review of the ledger of Vertigo Company on April 30, 2020, produces the following data pertaining to the preparation of monthly adjusting entries. (a) Notes Payable $25400. This balance consists of a note for 6 months at an annual interest rate of 15%, dated January 1, 2020. (b) There are five workers in Vertigo Company who are paid wages weekly. The five workers are paid $870 each for a 5-day work week (Monday to Friday). April 30 is a Tuesday and workers are paid on Fridays. (c) Annual depreciation is $12900 on equipment. (d) Physical check reveals inventory actually on hand on April 30, 2020 is $52939.7. (1) Journalize the adjusting entries at April 30, 2020. (2) Prepare an adjusted trial balance. (3) Using the balances from the adjusted trial balance, prepare a multi-step income statement and owners equity statement for the one month ended April 30. (Assume that the company falls under 20% tax bracket).