Assuming AG is in the first year of operations in and starts in 11/1/2021 by filing articles of incorporation establishing 10,000 shares of 2.00 par stock are available to issue. AG sells a gaming product that requires an annual subscription. The fair value of the product is $250/unit and the fair value of the subscription is $750/year. An investor purchases 6,000 of shares paying fair value of 25.00/share. AG found a storefront and prepaid 1 year of rent for $36,000. AG purchased inventory of 500 units at a cost of $50/unit on credit. Assume the Market Value (NRV) of ending inventory is $20,000. AG made the following credit sales: On 11/1 AG sold 100 units and 12/1 AG sold 150 units for fair value (see above). On 12/1 AG sold 150 units at a discount for $900. AG paid 60% of its supplier liabilities. AG was paid 80% from the customers. AG uses percent of sales method and established a .005 rate based on gross credit sales AG purchased stock of another company for $100,000. By year-end the stock was worth $110,000. AG did not sell the stock. AG paid salaries of $100,000. Accrue income tax at a rate of 21%. AG paid a dividend of $10,000. Please prepare journal entries (including closing), Income Statement and Balance Sheet based on the above information only.