XYZ Inc. had the following transactions during July 2023:

1. July 1: Issued 1,000 shares of common stock for $15,000.
2. July 7: Purchased equipment for $7,000, paying $2,000 in cash and signing a note for the balance.
3. July 15: Paid salaries of $1,500 to employees.
4. July 20: Sold inventory costing $2,500 for $4,000 cash.
5. July 31: Paid $600 for office rent.

Requirements:

1. Record the journal entries for the transactions.
2. Post the journal entries to T-accounts.
3. Prepare a balance sheet as of July 31, 2023.
4. Prepare a statement of cash flows for July 2023.
5. Analyze the impact of the transactions on the company's liquidity.