Use the information below to construct a Balance Sheet using the correct format. Each line will be worth 1 point each and each calculation worth 2 points

Show your work in the cell to receive partial credit on the calculation portion.

Notes Payable	$10,000
Accounts Receivable	$28,000
Fixed Assets	$475,000
Cash	$74,000
Long-term Debt	$175,000
Additional Paid In Capital	$200,000
Retained Earnings	$50,000
Total Assets	$600,000
Total Liabilities	$200,000
Inventory
Accounts Payable
Par Common Stock
Total Current Assets
Total Current Liabilities
Total Equity
Total Liabilities & Equity

Use the information below to construct a correctly formed income statement. Each correct line is worth .5 points and each calculation is worth 1.5 points.

Show your work in the cell to receive partial credit on the calculation portion. Hint: You should have 10 lines on your Income Statement

Cost of Goods Sold	$475,000
Depreciation	$80,000
Gross Profit
Interest Expense	$28,000
Operating Income
Sales/Revenue	$905,000
Selling & Administrative Expense	$175,000
Taxable Income
Taxes	$15,000
Net Income