can u please help me to get the income statement prepared details are attached

CalBearsGear Inc. Income Statement Practice Case The transactions below relate to CalBearsGear Inc. Please solve by yourself or cooperate in groups of 3-5 to do the following: Make your journal entries and place the accounts in the appropriate balance sheet categories as we did last time. Once you are done, summarize all journal entries in the final income statement for the year and the balance sheet as of 12.31.2012. We will briefly discuss this case in the class. A different student will be called on to explain each transaction. Get ready! CalBearsGear Inc.: T1: Received $50,000 on 1.1.2012 from Oski in return for 50,000 shares of the firm's $1 par value common stock T2: Received $40,000 loan on 1.1.2012. The loan principal is payable on 1.1.2015; interest is paid annually beginning 1.1.2013; annual interest rate is 10% T3: Purchased in cash on 1.1.2012 a building for the store for $60,000; 30-year life, $0 salvage value, straight-line depreciation method to be used T4: Acquired merchandise inventory on 1.1.2012, $125,000 on account; paid $97,400 by the end of 2012; Inventory on 12.31.2012 is $15,400 T5: Made cash sales totaling $52,900 and sales on account totaling $116,100 during 2012 T6: Of the sales on account, CalBearsGear collected $54,800 by 12.31.2012 T7: Incurred and paid costs as follows: salaries, $34,200; utilities, $2,600 T8: CalBearsGear had unpaid bills on 12.31.2012, for services incurred during the year, as follows: salaries, $2,400; utilities, $180 T9: CalBearsGear is subject to taxes at a rate of 40%. Income taxes for 2012 are payable on 3.15.2013 Required: Prepare annual Income Statement and Balance Sheet as of 12.31.2012 Assume that CalBearsGear: Uses the accrual basis of accounting Recognizes revenue at the time of sale