You have decided to go into the business of selling Beamers. You decide to operate the business as a corporation, Chris's Beamer Biz, Inc. On January 1, 20X1 the company issued you 100 shares of stock for $20,000 of cash. The company borrowed $10,000 from your Uncle Mike. For the $10,000 borrowed from your uncle, the company signed a note agreeing to pay back that amount on December 31, 20X4 and will pay interest at 10% at the end of each year. On January 1, 20X1, the company bought 11 Beamers for $2,500 each. During the year the company sold 8 Beamers for $8,000 each. They also paid a security deposit of $2,000, advertising expense of $6,000 and 12 months' rent of $18,000. In addition to the cash invested on January 1st, on August 1" you also invest a piece of land that you own into the business that is worth $40,000 in exchange for 200 more shares of stock. The first year's interest to Uncle Mike of $1,000 is paid on December 31 of 20X1. The tax rate is 30% of income before taxes and the company paid 50% of these taxes this year and will pay the rest in 20X2. So how did the company do? Prepare Journal Entries, T-Accounts, and Financial Statements