Please show me what formulas you input as well, not just the answer. Thank you.

Innovation Electronics, Inc. Balance Sheet At December 31 20x1 20X2 Assets Current Assets: 184,420 68,700 134,500 25,740 83,000 128,000 4,560 Cash Accounts Receivable Inventory Prepaid Insurance Long-term assets: Investments Land Equipment Accumulated Deprection 10 2,980 12 13 14 15 16 17 18 19 20 21 211,000 208,500 203,000 (117,500) 120,000 255,000 203,000 (101,500) $895,600 $ Total Assets 717,800 Liabilities and Stockholders' Equity Current Liabilties: 2Accounts Payable 23 24 25 26 27 28 29 30 31 26,500 3,400 30,200 81,000 2,300 32,500 Interest Payable Income tax payable Long-term liabilities: Notes payable Stockholders'Equity Common Stock Retained Earnings 255,000 242,000 230,000 130,000 273,000 307,500 Total Liabilities and Stockholders' Equity $895,600 $ 717,800 32 Innovation Electronics, Inc. Income Statemnt For the Year Ended December 31, 20X2 34 35 36 37 38 39 40 41 42 43 Net Sales Cost of Goods Sold $2,430,000 1,565,000 Gross profit Operating Expenses Depreciation expense 865,000 598,000 16,000 Income before income taxes 251,000 45 46 47 48 49 50 51 Other income (expense): Interest expense Income tax expense Gain on sale of land (17,000) (63,000) 6,500 73,500 Net Income after income taxes 177,500