As the accountant for Wheatley International, it is your job to prepare the company's income statement and balance sheet. Use the accounts listed below to construct the statements. Assume that the tax rate is 25%. Using the data below, create a Balance Sheet and Income Statement.

List of Accounts for WHEATLEY INTERNATIONAL AccountsReceivableLandNotesReceivableInsuranceExpensesAccountsPayableInterestExpensesCommonStockDepreciationNetSalesEndingInventoryNotesPayable(Long-Term)BeginningInventoryRetainedEarningsAdvertisingExpenseCashSalariesShort-TermNotesPayableMerchandisePurchased(forInventory)BuildingsRentUtilitiesEquipment&VehiclesGoodwillBondsPayable$120,6001,500,00061,20054,00045,00024,6001,896,000400,0001,053,000126,600210,000154,8001,459,80090,00072,000180,00015,600316,8001,050,00013,8008,4001,066,00090,00060,000