1. Prepare the company's Balance sheet and Income Statement during 2019 and 2020. (3 marks) Information for the year 2019 Marketable Securities 20,000.00 Accounts Receivable 60,000.00 Inventory 30,000.00 Number of shares outstanding 120,000.00 Other current assets 10,000.00 Propert, Plant and equipment 400,000.00 Machinery 80,000.00 Furniture 15,000.00 Vehicles 100,000.00 Paid in capital in excess of par value 600,000.00 Par value of stock 1.00 Notes payable 30,000.00 Accounts payable 30,000.00 Long term loan 89,000.00 Short term loan 20,000.00 Dividends 18,900.00 Cash 500,000.00 Accumulated depreciation 20,000.00 Sales 700,000.00 Depreciation expense 5,000.00 Selling expense 15,000.00 Cost of goods sold 450,000.00 Research and development expense 30,000.00 General and administrative expense 20,000.00 Interest expense 16,000.00 Tax rate 35% Utilities expense 30,000.00 Beginning balance of retained earnings 237,800.00