a. Issued 193,000 shares of $5-par-value common stock for $965,000 in cash. b. Borowed S530.00 from Ogesty National Bank and signed a 12% note due in three years. .hored and paid $300, insalanes for the year d. Purchased $680,000 of merchandise inventory on account during the year e. Sold inventory costing $590,000 for a total of $920,000, all on aredit t. Paid rent of $220,000 on the sales facilities during the first 11 months of the year g Purchased $160,000 of store equipment, paying $53,000 in cash and agreeing to pay the difference within 90 days h. Paid the entire $107,000 owed for store equipment and $620,000 of the amount due to suppliers for credit purchases previously record L Incurred and paid utities expense of $34,000 during the year Collected $855,000 in cash from customers during the year for credit sales previously recorded At year-end, accrued $63,600 of interest on the note due to Oglesby National Bank L At year-end, accrued $20,000 of past-due December rent on the sales facilities Required: a Prepare an income statement (ignoring income taxes) for Kissick Co.'s first year of operations and a balance sheet as of the end of the Hint: You may find it helpfuil to prepare T-accounts for each account affected by the transactions) sold from Amounts to be deducted and net loss should be indicated with minus sign.) Assets: Total current assets