Please draft this AssignmentAccounting, i need help with the formulas. On October $1,$ Willie Wonka, the sole stockholder, began operations of Wonka Candy Corporation, a merchandising company who purchases candy from suppliers and sells it to customers. Following are the transactions that occurred for the corporation during their first month of operation. Oct $1$Wille Wonka invested $$150,000$ in cash as the sole stockholder in exchange for $100\%$ of the companys common stock.Oct $2$Wonka paid $$60,000$ cash for a store $($use the asset Store$).$Oct $3$Wonka bought display cases, chairs, and tables for the store for cash in the amount of $$10,000($use the asset Furniture$).$Oct $4$Wonka paid $$3,000$ cash to rent refrigerators for this month of October.Oct $10$ Wonka purchased $$25,000$ of candy from suppliers on credit to be displayed in the store $($hint: as Inventory$)$ to customers.Oct $12$ Wonka sold $$30,000$ of candy for cash that cost the corporation $$15,000($hint: there are two journal entries for this transaction$).$Oct $15$ Wonka paid the suppliers from Oct $10$ $$20,000$ in cash.Oct $22$ Wonka sold $$5,000$ of candy on credit that cost the corporation $$2,000($hint: there are two journal entries for this transaction$).$Oct $25$Wonka paid $$1,000$ cash to a plumbing company for a broken pipe in the store fixed the same day.Oct $26$Wonka received $$4,000$ cash from the customer noted on Oct $22.$Oct $31$Wonka paid employees wages in cash of $$2,500$ for work performed during October.Oct $31$Wonka paid $$2,000$ in cash to a repair company for work on a candy machine. Required:Prepare an Excel Worksheet with $1)$ one tab showing all journal entries recorded during the month $($including the date, accounts, debits, and credits$),$ and $2)$ one tab showing the resulting income statement, statement of retained earnings, and balance sheet after the first month of operations. Each incorrect account or numeric placement will result in one point deduction for each.