This info needs to be put in a balance sheet and income sheet

s 004 Problem 9-01A Notes and Interest e McLaughlin Inc. operates with a June 30 year-end. During 2014, the following transactions occurred: a. January i: Signed a one-year, 10% loan for $35,000 Interest and principal are to be paid at maturity. b. January 10: Signed a line of credit with Little Local Bank to establish a $560,000 line of e' credit. Interest of 9% will be charged on all borrowed funds. c. February I: Issued a $28,000 non-interest-bearing, six-month note to pay for a new machine. Interest on the note, at 12%, was deducted in advance. d. March 1: Borrowed $210,000 on the line of credit. e. June 1: Repaid $140,000 on the line of credit plus accrued interest f. June 30: Made all necessary adjusting entries. August 1: Repaid the non-interest-bearing note. h. September 1: Borrowed $280.000 on the line of credit November 1: Issued a three-month, 8%, $16,800 note in payment of an overdue open account. j. December 31: Repaid the one-year loan l from transaction (a) l plus accrued interest. Required: 1. Identify and analyze the effect of these transactions. When calculating interest use full months instead of days. Do final answers to the nearest dollar