Show how these actions affect the following statement sheets.

You pay an editor $2,000 per wedding to help process the photos.

You hire a business manager for $40,000 per year to help answer emails and set your schedule.

You earn 2k in interest income from your business account.

Income Statement 1/1/2020 12/31/2020 Balance sheet 12/31/2019 12/31/2020 Statement of Cash Flows 1/1/2020 - 12/31/2020 Assets Operating Activities Revenue Cost of Goods Sold (COGS) SG&A Operating Income (EBIT) Net Interest Expense Non-operating Income (Expense) Pretax income Tax Expense Net Income Cash A/R Inventories PP&E Total assets Net income Depreciation Increase in deferred tax Liabilities Accounts Payable Debt Total liabilities Decrease in inventory Decrease in accounts receivable Decrease in other short-term operating assets Increase in accounts payable Increase in accruals Increase in other current liabilities Net cash from operating activities Equity Weighted average basic shares outstanding EPS Common stock Retained earnings Total equity Balanced EBITDA Balance check Balanced D&A Tax Rate Investing Activities Investment (decrease) in Gross PPE Investment (decrease) in other long-term oper. ass. Decrease in short-term investments Decrease in long-term investments Net cash from investing activities Financing Activities Increase in short-term debt Increase in long-term debt Preferred dividends Increase in preferred stock Increase in other long-term liabilities Increase in common stock (Par + PIC) Common dividends Net cash from financing activities Net cash flow Starting cash Ending cash Calculated ending cash