Prepare a balance sheet and income statement for Lieberman Inc. from the following information. Inventory $6,500 Common

Prepare a balance sheet and income statement for Lieberman Inc. from the following information.

Transcribed Image Text:

Inventory $6,500 Common stock 45,000 Cash Operating expenses Short-term notes payable Interest expense Depreciation expense Net sales Accounts receivable Accounts payable Long-term debt Cost of goods sold 16,550 1,350 600 900 500 12,800 9,600 4,800 55,000 5,750 Buildings and equipment 122,000 Accumulated depreciation Taxes 34,000 1,440