31-Mar-22
Accounts	Debit	Credit
Cash	$274,282
Accounts Receivable Net	$123,000
Merchandise Inventory	$145,000
Prepayments	$11,952
Land	$45,790
Buildings	$88,125
Equipment	$56,650
Accumulated Depreciation		$28,815
Accounts Payable		$43,000
Interest Payable		$900
Unearned Revenues		$57,000
Income Tax Payable		$72,519
Salary Payable		$6,500
Notes Payable		$55,000
Common Stock ($1 Par)		$25,500
Additional Paid-in Capital		$259,725
Retained Earnings		$146,780
Treasuary Stock	$7,200
Dividends	$5,040
Gain on Sale of L/T Assets		$2,115
Sales Revenue		$496,846
Cost of Goods Sold	$301,836
Operating Expenses	$103,723
Purchase	$0
Depreciation Expenses	$6,800
Interest Expenses	$1,463
Income Tax Expenses	$23,839
Total	$1,194,700	$1,194,700

1. Prepare the income statement.
2. Prepare the balance sheet.
3. Prepare the statement of owners equity