Alma Corporation is a toy manufacturing company based in Jordan. It employs 28 workers in Amman and has three sales representatives covering all of Jordan. Due to increased demand, it plans to build a new factory in Zarqa for which it has already acquired the land. Using the financial data (in US $) given below for Alma Corp.

prepare an income statement and balance sheet

KEY FINANCIAL DATA ALMA CORP. Selling and marketing expense 55,000 Tax expense for current year 105,000 Finished Goods Inventory 45,000 Long-term debt 700,000 Interest expense 120,000 Accounts payable 320,000 Cash and marketable securities 200,000 General and administrative expense 480,000 Accounts receivable 160,000 Revenues 2,000,000 Taxes payable 15,000 Purchases 900,000 Beginning Inventory 100,000 Ending Inventory 50,000 Land bought for building new factory 900,000 Research and development expense 165,000 Vehicle 267,000 Accumulated Depreciation 100,000 Transportation expenses 128,000