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5) Prepare a trial balance, an income statement and a balance sheet using your calculations. You will need the following information: Sales were $1, 181,200.00

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5) Prepare a trial balance, an income statement and a balance sheet using your calculations. You will need the following information: Sales were $1, 181,200.00 Administrative and sales expenses $225,000.00 Interest on debt is $82,000.00 At the end of the period, XYZcom has the following account balances: Cash 550,000 Accounts receivable 112,000 Inventoryr 84,000 Prepaid expenses 4,800 Equipment 188,000 Depreciation 48,000 Accounts payable 125,000 Loans payable 381,300 Net Profit 485,500

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