Horizontal Financial Statements Model for Year $1$ and Year $2$

Totals

Transactions:

Issued common stock and received $$100,000$ cash

On April $1,$ Year $1,$ loaned $$40,000$ to MHC for one year at $6\%$ interest

During Year $1,$ performed services for $$200,000$ and processed them via credit card with a $3\%$ processing fee

The credit card company paid Mandalorian the total revenues minus the fee

On December $31,$ Year $1,$ accrued interest on the note

On April $1,$ Year $2,$ accrued interest on the note

On April $1,$ Year $2,$ collected the note and all interest