From the following information, construct a simple income statement and a balance sheet:

Sales $$1,300,000$

Finished goods $310,000$

Long$-$term debt $300,000$

Raw materials $100,000$

Cash $25,000$

Cost of goods sold $560,000$

Accounts receivable $200,000$

Plant and equipment $370,000$

Interest expense $120,000$

Number of shares outstanding $80,000$

Earnings before taxes $540,000$

Taxes $150,000$

Accounts payable $190,000$

Other current liabilities $60,000$

Other expenses $80,000$

Equity $455,000$Corporation X:

Income Statement for the Year Ended XX$/$XX$/$XX

Sales

Cost of goods sold

Other expenses

Earnings before interest and taxes

Interest expense

Earnings before taxes

Taxes

Net earnings

$

Number of shares outstanding

Earnings per share

Corporation $x$ Balance Sheet as of $x\frac{x}{x}\frac{x}{x}x$