X company has a following beginning balances

Cash 40,000, A/R 8,000, Inventory 22000, N/R 10000, Equipment 30,000, Building 50,000, Acc Dep. of (Building 20,000, Equipment 10,000), A/P 10,000, N/P 15,000, Capital 90,000, RE 15,000

During January 2020 following transaction occurred:

• 1/1/2020, Purchase Inventory 7000 paid 5000 cash and remaining on account
• 2/1/2020, Sold inventory by 30,000 and received 25,000 cash and remaining on account, the inventory has a cost of 23000
• 2/1/2020, Paid 2400 for one-year rent contract
• 10/1/2020, Purchase a land by 10000 and signed a ($10,000 -one year) note payable
• 15/1/2020, Paid a dividend 5000
• 20/1/2020, Collected cash 7000 from A/R and 12000 from N//R
• 25/1/2020, Paid Cash 6000 for A/P and 10000 for N/P
• 30/1/2020, Received 25000 other revenues
• 31/1/2020, Paid salaries 10000, utilities 4000, other expenses 7000
• 31/1/2020, Depreciation for building is 1600 and for equipment 1000
• 31/1/2020, Prepaid Rent is expiring 200 per month

Required: posting to ledger the prepare financial statement for January 2020 >

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Please solve clearly and on the basis of international standard.