I was able to do the income statement but I am hoping for help with the budgeted balance sheet

Required information Problem 13-63 a Problem 13-64 (Algo) (LO 13-5, 6, 7, 9) [The following information applies to the questions displayed below] Jeremy Slacker started the Del Fuego Surf Shop on January 1 after determining that business school classes conflicted with his preferred activity. He invested $82,980 in the shop$50,980 of his own savings and $32,000 borrowed from an acquaintance. The loan is to be repaid in 5 years. Jeremy will pay the lender annual interest at a rate of 8 percent. Shortly after opening, Jeremy realized that he is not the best financial planner and has come to you for help. With some prodding, you are able to establish that Jeremy plans to sell only two models of surfboard, the Zuma and the Coronado, for at least the first year. Data on the boards are given as follows. Zuma Coronado Expected annual sales (units) 316 403 Retail price (per unit) $420 $720 Purchase cost (per unit) 350 470 Additional information on the planned operations for the year includes the following. 1. Equipment costing $54,000 was purchased for cash when the store opened. The equipment will be depreciated over five years using straight-line depreciation. 2. Because of the fantastic weather in Del Fuego, Jeremy expects sales to occur uniformly over the year. Sales will be both for cash (60 percent) and on account (40 percent). Sales on account are assumed to be collected in two months. 3. Jeremy will maintain inventory equal to one-half of a month's sales. All boards will be purchased from the manufacturer on credit with payment made one month after purchase. 4. Annual cash selling, general, and administrative expenses are $12,502 fixed plus 10 percent of revenues. 5. Jeremy's tax rate is 40 percent. Del Fuego Surf Shop Budgeted Income Statement For the Year Zuma Coronado Total Revenue $ 342,720 $ 293,760 $ 636,480 Cost of sales 285,600 191,760 477,360 $ 57,120 $ 102,000 $ 159, 120 Less other costs: Depreciation 10,800 SG&A (fixed) 76, 150 Interest expense 2,560 Operating income 69,610 Income tax 27,844 Net income $ 41,766Current assets Total assets Liabilities and Net Worth Total liabilities Total net worth Total liabilities and net worth _ _ $ 0 _ o $ 0 _ $ 0 _ 0 $ 0