Prepare the four financial statements using the Tabular analysis

John Edwards open his own Dental practice business on Jan 1, 2015. During the first month of operations, the following transactions occurred:

1. John invested $31,000 in cash in the business

2. Paid $1000 for January rent

3. Purchased equipment on account for $3000

4. Performed dental services for clients for cash $8000

5. Borrowed $1000 cash from a bank on a note payable

6. Performed dental services for clients on account $2000

7. Paid salaries $1000

8. Paid utilities $300

9. Paid $100 for advertising with local newspaper

10. John withdrew $1,500 for personal use

Instructions:

1) Prepare a tabular summary of the transactions

2) Prepare the income statement, owners equity, and balance sheet at January 30,2015