Basic Accounting. Need this in an hour. thanks!

construct me income statement and balance sheet at the end Question 25 1 pts Following are the transactions that occurred in the life of El Dorado National Advertising Co. for the calendar year ended December 31, 1997: El Dorado National Advertising (EDNA Co. was organized in January, 1997. The company issued 100,000 shares of common stocks at a pur value of P9.00 per Share to various individuals in return for cash payments totaling P1,000,000 ca 1.000.000 Common Stod 200.000 Sales Revenue 100.000 OC 1.000.000 Common Stock 1.000.000 None of the choices 1.000.000 Coron Stock 900 Exio Other Pald-in Capital 100.000 Conh-1,000,000 Comme Stock-900.000 Other Pa-in Capital -100,000 Question 26 1 pts EDNA Co purchased land and building for P700,000 in cash. The bill of sale specified that P500,000 of the payment was for the building Ca-7UXO - 200.000 Blog 500.000 None of the choices Och 700.000 Land 500.000 Building 200.000 Aucts Receivable 700,000 Ses Revenue 700.000 Cash 700 000 Sites Revenue 700.000 Question 27 1 pts EDNA Co. purchased office equipment on account for P100.000 from the Supplier Company Cash +100,000 Office Eript100.000 Cash-100,000 Oto Eat +100,000 None of the chos Ottice Lot 100.000 Acts Receivable -100,000 Omce Ent+100.000 Acts Payable 100,00 Question 28 1 pts EDNA Co. obtained a P500.000 short-term interest-bearing loan from one of its stockholders. The company signed a note for the loan and received cash in the amount of P500.000, Interest expense for the year amounted to P5.000, Cash 500,000 Bank No Payable 500.000 Ac Interest/P-5.000 interest Exp. 5.000 Cs500.00 Bank Notes Payable 300.000 Interest/P2.500 interest -2.500 None of the choices Cash 500.000 Accounts Payable 500.000 Actrest/ +2.500 Interest E2.500 Cash 500.000 A Palle 500.000 Attres P5,000 Interest Exp. 5.000 Question 29 1 pts EDNA Co, prepared a check for P80.000 and mailed it to the Supplier Company is partial payment for the office equipment purchased in a previous transaction Omce -0.000 Account P-30,000 Cash-00.000 -10.000 Cah000 Ants Payable 30.000 Cash00.000 Cost of Good S00,000 None of choice D Question 30 1 pts EDNA Co made a cash sale of advertising services for P600.000 Cash+600.000 Sales Revenue 600.000 Dewable 600.000 Revenue 600.000 Cash Other Reven00,000 Sales Revenue 600.000 Cost of Goods Sold 600.000 None of the choices Question 31 1 pts EDNA Co, rendered advertising service to the Buyer Company. The Buyer Company agreed to pay P80.000 for this service but put the chance on account rather than paying cash for it None of the Caso Cost of God -60.000 Account Recrute 10.000 Cost of Goods Sold -80,000 Accounts Receive 30.000 Sa Reve 80.000 Cash0.000 Sales Revenue 30.000 Question 32 1 pts Office equipment bought is assumed to provide service for the next ten years with a salvage value of P10,000. The depreciation expense of P16,364 is recorded at the end of each year Ace Deprecations Deseciation Expenses 16364 Acid Depreciation 16,364 Depreciation Expenses 16364 None of the choices Once Cot-16164 Depreciation Expenses 16.354 Accu Depecution 16.364 Depreciation Expers 16,364 Question 33 1 pts EDNA Copold P200.000 in rent for some othe space that is occupied during the year. Ten percent of the amount , however, applicable for the next year yet. Och 200,000 Print 20 DOO Rent Expenses 100.000 Cath 200.000 President -100.00 Rent Expert 20.000 Och 900.000 Prepaid Rent 20.00 Rent Expenses 100.000 Nome of the choices Cash-200.000 Precold Hent100.000 Rent Expens 20.000 ance sheet at the end D Question 34 1 pts Office supplies amounting to P8.000 were purchased on credit during the year. A physical count at the end of the year revealed that only P3.000 worth of supplies remain Canh -8.000 Supplies 5.000 Super Ep.3.000 Sopi5.000 Accounts Payable 8.000 Supplies 3.000 Op 3000 Accounts Pe 1000 Supplies 5,000 None of the choices Cash-000 Suplies 1.000 Supplies Exp5.000 11 Question 35 1 pts EDNA Copaidats salespeople a total of P295.000 for their work during the year C29000 295.000 None of the choices C295.000 W X C-295.000 Ace We Pays +295.000 Act, W 295.000 Question 36 1 pts The company received bill from the Utilities Company in the amount of P50,000 for gas and electricity used by EDNA Co during 1997. Only 4/5 of this entire amount has been paid while the remaining bill wall not be settled until January 1998 Al Payable 0000 Ca 10,000 AL DIL O USO,000 C60.000 UHR 100% None of the che a Cat40.000 Ne Util Payable 10.000 50.000 Question 37 1 pts The company is planning to acquire additional equipment at a total cost of P250,000 to be paid in cash Ch.250.000 250.000 Ch 250.000 Coro Goods Sol 0,000 shanventory 4250X None of the choice sh250000 Com stock 250.000 Question 38 1 pts B. Torres, one of the stockholders left the country but prior to that she sold all her stocks foriginally bought for P25.000) to B. Nidoy for P33.000 Cash33,000 Common Stock 25.000 Other Revenue 33,000 Cost of Goods Sold 25.000 None of the choices Gashi -33.000 Common Stock 33.000 Common Stock-393.000 Sa Revenue 33.000 Cash 33.000 Common Stock 25000 Sales Revenue *33.000 Cost of Goods Sold 25.000 Question 39 1 pts The Board of Directors declared a P30.000 dividend to its stockholders to be paid on February 15, 1998 Common Stock 3000winds 0000 Accounts Payable30,000 Divin30,000 None of the choice Cash 30,000 Dividends 30.000 y Dividends/40 XO Dividend 10.000 Question 39 1 pts The Board of Directors declared a P30.000 dividend to its stockholders to be paid on February 15, 1998 Common Stock 3000winds 0000 Accounts Payable30,000 Divin30,000 None of the choice Cash 30,000 Dividends 30.000 y Dividends/40 XO Dividend 10.000 Question 40 EDNA Co. is charged a corporate income tax rate of 35% on its eamings during the year 1997. This tax will not be paid until March 15, 1998 Ace Taxes Payable -40,000 Income Tax Expense 40.000 Accounts Payabile 400.000 Income Tax Expense 60,000 O Cash 35.600 Income Tax Expense 35.000 None of the choices Cash -50,000 Income Tax Expense 150.000 Question 41 Construct the Income Statement for the period ended December 31, 1997. what is the Gross Margin for EDNA Co.? 580.000 780,000 680.000 None of the choices O 450,000 Question 42 Based on the income Statement, what is the Net Income Before Tax of EDNA Co.? us 133,636 680,000 114,286 O None of the choices 128,636 Question 43 Construct the Balance Sheet as of December 31, 1997, what is the ending balance for Cash? O 755.000 BOO 000 None of the choices 850,000 0 785,000 Question 44 Based on the Balance Sheet, what is the ending balance for Accounts Payable? 0 35.000 0 32.000 0 28.000 O 30.000 O None of the choices D Question 45 Based on the Balance Sheet, what are the Total Assets or Total Liabilities and Stockholders' Equity of EDNA Co as of December 31, 1997? 1.671.686 O 1,591 636 1,680,000 O None of the choices 0 1.780,000