I'm not getting this can you help? with explanations. Thanks:

Required information

[The following information applies to the questions displayed below.]

The following transactions apply to Ozark Sales for 2018:

1. The business was started when the company received $50,000 from the issue of common stock.
2. Purchased equipment inventory of $177,000 on account.
3. Sold equipment for $209,500 cash (not including sales tax). Sales tax of 6 percent is collected when the merchandise is sold. The merchandise had a cost of $134,500.
4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 5 percent of sales.
5. Paid the sales tax to the state agency on $159,500 of the sales.
6. On September 1, 2018, borrowed $20,500 from the local bank. The note had a 5 percent interest rate and matured on March 1, 2019.
7. Paid $5,500 for warranty repairs during the year.
8. Paid operating expenses of $55,500 for the year.
9. Paid $124,300 of accounts payable.
10. Recorded accrued interest on the note issued in transaction no. 6.

2. Prepare the income statement, balance sheet, and statement of cash flows for 2018

Required information Complete this question by entering your answers in the tabs below. Req B Inc Stmt Req B Bal Sheet Req B Stmt Cash Flows Prepare the balance sheet for 2018. (Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) OZARK SALES Balance Sheet As of December 31, 2018 Assets Cash Merchandise inventory $ 0 Total assets Liabilities $ 0 Total liabilities Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ $ 0