need help on both questions

Use the accompanied Excel spreadsheet to answer this question: Initial set up on December 31, 2020: Coffee shop Cozy Corner: $50,000 in personal funds (10,000 shares outstanding), $50,000 in loan at 8% interest rate. Purchase equipment, tables, and chairs for $15,000 with a useful life of 3 years. Purchase inventory for $25,000 (20,000 in cash. 5,000 on credit) Question: What does the opening BS look like? During the fiscal year ended December 31, 2021: Sell $90,000 worth of coffee but have collected 80,000 in cash Customers still owe you 10,000. Use up all of the inventory Pay off the amount you owe your supplier Hire a cashier and a barista for 40.000 total Pay rent of 10,000 for the year Take depreciation expense Pay interest expense on the loan Pay taxes at 25% of taxable income Question: Build the three financial statements for fiscal year 2021 Balance sheet As of Dec 31, 2020 AP Debt Cash AR Inventory PP&E Shareholders' equity Retained earnings Total assets Total liabilities and equity Does the balance sheet balance? Yes Income statement For the fiscal year ending Dec 31, 2021 Revenues COGS Gross profit SG&A Depreciation EBIT Interest expense Taxable income Taxes Net income Statement of cash flows For the fiscal year ending Dec 31, 2021 Operating activities Net income Depreciation and amortization Change to A/R Change to inventory Change to A/P Net cash provided by operating activities Investing activites Net cash used in investing activities Financing activities Net cash provided by financing activites Net increase in cash Cash balance at beginning of year Cash balance at end of year Balance sheet As of Dec 31, 2021 AP Debt Cash AR Inventory PP&E Shareholders' equity Retained earnings Total assets Total liabilities and equity Does the balance sheet balance? Yes