Please show step by step problem 1 and 2.

PROBLEM #1: Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. 1. Stockholders invest $25,000 in cash in starting a real estate office operating as a corporation 2. Purchased $500 of supplies on credit. 3. Purchased equipment for $15,000, paying $3,500 in cash and signed a 30-day, $11,500, note payable. 4. Real estate commissions billed to clients amount to $4,000. 5. Paid $700 in cash for the current month's rent. 6. Paid $250 cash on account for office supplies purchased in transaction 2. 7. Received a bill for $800 for advertising for the current month. 8. Paid $2,500 cash for office salaries. 9. Paid $1,200 cash dividends to stockholders. 10. Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4. PROBLEM #2 The adjusted trial balance of Nicks Financial Planners appears below and using the information from the adjusted trial balance, you are to prepare for the month ending December 31 1. an income statement: 2. a retained earnings statement; and 3. a balance sheet. 4. Closing Journal Entries NICKS FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2011 Debit 16,400 2,200 Accounts Receivable Office Supplies 1,800 Office Equipment 15,500 Accumulated Depreciation-Office Equipment 4,000 Accounts Payable 3,000 Unearned Service Revenue 5,000 17,000 Common Stock 7,400 Retained Earnings 2,500 Dividends 7,500 Service Revenue Office Supplies Expense 1,100 Depreciation Expense 2,500 1,900 Rent Expense $43,900 $43,900