Zeta Construction started operations on January 1, Year 1. The following are the transactions for the first year:

Transaction #	Date	Transaction Description	Amount
1	Jan 1, Y1	Issued common stock for cash	$180,000
2	Feb 5, Y1	Purchased construction materials on account	$60,000
3	Mar 1, Y1	Paid cash for labor expenses	$45,000
4	Apr 10, Y1	Paid cash for construction equipment	$40,000
5	May 15, Y1	Completed a construction project (cost: $90,000)	-
6	Jun 20, Y1	Received cash for completed project	$130,000
7	Sep 1, Y1	Paid cash for insurance	$10,000
8	Dec 31, Y1	Paid cash dividends to shareholders	$20,000

Required:

1. Prepare the journal entries for each transaction.
2. Prepare the income statement and balance sheet for the year ended December 31, Year 1.
3. Prepare the statement of cash flows for the year ended December 31, Year 1.