- Accounts Payable =$25,000 - Interest Expense =$16,765 - Accounts Receivable =$50,000 - Inventory =$75,000 - Accrued Expenses =$8,750 - Land =$350,000 - Advances =$0 - Miscellaneous expenses =$3,025 - Bad Debt =$1,450 - Mortgage =$185,000 - Cash/ Checking =$75,000 - No returns or allowances - Common Stock =$179,974 - Notes receivable =$0 - Cost of goods sold for Pumpkin patch - Office expenses =$740 =$13,500 - Organic fruits and vegetables sales = - Cost of Organic Produce =$65,000$457,000 - Decrease in Accounts payable =$5000 - Other Assets =$0 - Decrease in accrued expenses =$5000 - Other Revenue =$5000 - Delivery/Freight expense =$24,300 - Owner's Draw =$65,000 - Depreciation on Equipment =$6000 - Owner's Equity (Beginning of Year) = - Depreciation on Processing/Shipping $503,918 Facilities =$20,000 - Part-time salary expense =$26,520 - Discounts of $20,000 - Processing/Shipping Facilities = - Equipment =$60,000 $200,000 - Full-time salary expense =$120,000 - Promotion expense =$8,500 - Important notes: no Change in - Pumpkin patch sales =$63,000 Common Stock - Utility expense =$16,300 - Increase in Accounts receivable = - Retained Earnings = $385,276 $2500 - - - =$43,368 - Insurance expense =$13,200 \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Balance Sheet for Bernbeck Pumpkin Patch for the year ended December 31,2022 } \\ \hline & & & \\ \hline & & & \\ \hline Assets & & & \\ \hline Current Assets & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Total Current Assets & & & \\ \hline Fixed assets & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Total Fixed Assets & & & \\ \hline Total Assets & & & \\ \hline Liabilities & & & \\ \hline Current Liabilities & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Total Current Liabilities & & & \\ \hline Long-Term Liabilities & & & \\ \hline Total Long-Term Liabilities & & & \\ \hline Total Liabilities & & & \\ \hline Owner's Equity & & & \\ \hline Owner-Invested Capital: & & & \\ \hline & & & \\ \hline Total Owner's Equity & & & \\ \hline Total Liabilties and Owner's Equity & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Income Statement for Bernbeck Pumpkin Patch for the year ended December 31,2022 } \\ \hline & \\ \hline & \\ \hline Gross Sales & \\ \hline & \\ \hline Net Sales & \\ \hline Cost of Goods Sold: & \\ \hline & \\ \hline & \\ \hline Total Cost of Goods Sold & \\ \hline Gross Profit (Margin) & \\ \hline Operating Expenses: & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular}