construct an income statement and balance sheet for
the first month of operation, given the
following information:
Sales
$104,000.00
Collections
$77,000.00
Purchases (paid for half)
$60,000.00
Ending inventory
$57,000.00
Equipment Depreciation
$18,000.00
Vehicle Depreciation
$2,000.00
Heat (due next month)
$450.00
Electricity
$325.00
Telephone
$230.00
Advertising
$1,200.00
Salaries
$15,500.00
Payroll Tax Expense
$1,700.00
Office Supplies
$200.00
Insurance (due next month)
$1,250.00
Loan payment
$3,500.00
principal
$1,500.00
interest
$2,000.00
Legal fees (due next month)
$500.00
Accounting
$250.00
Vehicle...