Baird Company began operations on January 1, 2018, by issuing common stock for $32,000 cash. During 2018, Baird received $56,400 cash from revenue and incurred costs that required $38,400 of cash payments. Required Prepare a GAAP-based income statement and balance sheet for Baird Company for 2018, under each of the following independent scenarios: Baird is a promoter of rock concerts. The $38,400 was paid to provide a rock concert that produced the revenue. Prepare

A. Balance Sheet Balance Sheet as of 12/31/2018 Assets Cash 0 Total assets $0 Equity Common stock $32,000 Retained earnings 18,000 0 Total equity $50,000

****Can you please provide step by step on the balance sheet****