I cannot seem to figure out how to do the calculations, can someone help me?

The following transactions pertain to year 1 , the first-year operations of Franklin Company All inventory was started and completed during year 1. Assume that all transactions are cash transactions. 1. Acquired $4,600 cash by issuing common stock. 2. Paid $710 for materials used to produce inventory 3. Paid $1,980 to production workers, 4. Paid $915 rental fee for production equipment 5. Paid $120 to administrative employees 6. Paid $108 rental fee for administrative office equipment. 7. Produced 350 units of inventory of which 260 units were sold at a price of $12 each. Required Prepare an income statement and a balance sheet in accordance with GAAP. Complete this question by entering your answer in the tabs below. Prepare an income statement in accordance with GAAP. Note; Do not round intermediate calculations. Indicate amounts to be deducted with a minus sign. Required Prepare an income statement and a balance sheet in accordance with GAAP Complete this question by entering your answer in the tabs below. Prepare a balance sheet in accordance with GAAP. Note: Do not round your intermediate calculations