Working Notes would be super helpful!

Required information (The following information applies to the questions displayed below.) Munoz Company began operations on January 1, year 1, by issuing common stock for $33,000 cash. During year 1, Munoz received $56,200 cash from revenue and incurred costs that required $37.200 of cash payments. Prepare a GAAP-based income statement and balance sheet for Munoz Company for year 1, for the below scenario: c. Munoz is a manufacturing company. The $37,200 was paid to purchase the following items: (1) Paid $3,900 cash to purchase materials that were used to make products during the year. (2) Paid $2,340 cash for wages of factory workers who made products during the year. (3) Paid $12,360 cash for salaries of sales and administrative employees. (4) Paid $18,600 cash to purchase manufacturing equipment. The equipment was used solely to make products. It had a four-year life and a $2,200 salvage value. The company uses straight-line depreciation. (5) During year 1. Lang started and completed 2.200 units of product. The revenue was earned when Lang sold 1.800 units of product to its customers. Complete this question by entering your answer in the tabs below. Income Statement Balance Sheet Prepare an Income Statement. MUNOZ COMPANY Income Statement for Year 1 $ 0 $ 0 income Statament Balance Sheet Required information The following information applies to the questions displayed below.) Munoz Company began operations on January 1, year 1, by issuing common stock for $33,000 cash. During year 1. Munoz received $56,200 cash from revenue and incurred costs that required $37,200 of cash payments. Prepare a GAAP-based income statement and balance sheet for Munoz Company for year 1, for the below scenario: C. Munoz is a manufacturing company. The $37.200 was paid to purchase the following items: (1) Paid $3,900 cash to purchase materials that were used to make products during the year. (2) Paid $2,340 cash for wages of factory workers who made products during the year. (3) Paid $12,360 cash for salaries of sales and administrative employees. (4) Paid $18,600 cash to purchase manufacturing equipment . The equipment was used solely to make products. It had a four-year life and a $2,200 salvage value. The company uses straight-line depreciation. (5) During year 1. Lang started and completed 2,200 units of product. The revenue was earned when Lang sold 1,800 units of product to its customers. Complete this question by entering your answer in the tabs below. Income Statement Balance Sheet Prepare a balance sheet. (Amounts to be deducted should be indicated with a minus sign.) MUNOZ COMPANY Balance Sheet as of 12/31/ Year 1 Assets S 0 Total assets Equity