Please if you are writing the solution on a paper and you scan it after I would really appreciate it if the handwriting is clear enough to read, thank you (answer all questions please)

CHECK FIGURES: 1. Profit =$393,400;2. Total assets =$2,851,250; Total equity =$2,614,650 LR Enterprises Inc. had the following equity account balances at December 31,2019 : Sales during 2020 totalled $1,560,000 and operating expenses were $998,000. Assume that income tax is accrued at year-end at the rate of 30% of annual operating profit. On March 1,2020,200,000 of the common shares were repurchased at $1.70 each and then cancelled. The board of directors declared and paid the annual cash dividend on the preferred shares on December 1 and an 8% common share dividend was declared and distributed on the same day when the market price per common share was $1.80. Required Preparation Component: Use the information provided to prepare: 1. An income statement for the year ended December 31,2020 , including appropriate earnings per share information. 2. A classified balance sheet at December 31,2020 , assuming the following adjusted account balances: Cash, \$168,000; Accounts Receivable, $102,000; Allowance for Doubtful Accounts, $3,500; Prepaid Insurance, $36,000; Land, $1,000,000; Building, $500,000; Accumulated Depreciation, Building, \$241,000; Machinery, $1,909,600; Accumulated Depreciation, Machinery, $653,850; Furniture. \$78,000; Accumulated Depreciation, Furniture, $44,000; Accounts Payable, \$41,000; Notes Payable (due March 2022), $27,000. Analysis Component: 3. What percentage of the assets is financed by debt? 4. What percentage of the assets is financed by equity