With this information how to prepare an Income Statement and Balance Sheet for the first month of the operation. Assuming that that issued $30000 common stock for cash on the first day.

GENERAL JOURNAL	Page 1
Date	Accounts		Debit	Credit			Raw materials
8-4-X5	Raw material inventory		4,000				4000
	accounts payable			4,000				2400
	To record purchase of raw materials						1600
8-8-X5	Work in Process		6,600				Work in process
	Raw materials inventory			2,400			6600
	Salaries payable			3,000				4400
	Factory overhead			1,200			2200
	To transfer raw materials to production, record direct labor costs on job, and apply overhead at the predetermined rate
							Finished goods
8-9-X5	Finished goods inventory		4,400				4400
	work in process			4,400				2200
	To transfer completed units to finished goods inventory						2200
8-10-X5	Cash		4,000
	Sales			4,000
	To record sale of finished awning for $4,000
8-10-X5	cost of goods sold		2,200
	finished goods inventory			2,200
	To transfer finished goods to cost of goods sold