Ex$.2)$ Record the following transactions using T$-$Accounts and prepare the balance sheet and income

statement of Consulting Company during the year of $2024$:

Jan. $2-$ John invested $$100,000$ cash in exchange for common stock to start the Consulting Company and

Paul invested $$100,000$ using his luxury car $-$ according to the car's fair value $-$ to be used to visit clients in

exchange for common stock.

Feb. $10-$ The company provided consulting services to its first client for $$50,000$ and received in cash

$$20,000$ and on credit $$30,000.$

Apr. $-$ The company spent $$50,000($cash$)$ in advertising campaigns to promote the business.

Dec. $20-$ The company provided consulting services on credit to its second client for $$100,000.$

Dec. $30-$ The car's depreciation expense is estimated at $$25,000/$ year.