This question concerns the items and the amounts that two entities, Merryvale Co. and Gardner Hospital, should report in their financial statements. During November, Gardner provided Merryvale with medical exams for Merryvale employees and sent a bill for $48,000. On December 7, Merryvale sent a check to Gardner for $25,000. Merryvale began November with a cash balance of $50,000; Gardner began with cash of $0. Read the requirements. Requirement 1. For this situation, show everything that both Merryvale and Gardner will report on their November and December income statements and on their balance sheets at November 30 and December 31. Begin by showing what Merryvale will report on their November and December Income statements and on their balance sheets at November 30 and December 31. (Complete all answer boxes. For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.) Merryvale Co.: Income Statement November December Balance Sheet November 30 December 31 Requirements 1. For this situation, show everything that both Merryvale and Gardner will report on their November and December income statements and on their balance sheets at November 30 and December 31. 2. After showing what each company should report, briefly explain how the Merryvale and Gardner data relate to each other. Print Done