Below is the complete list of accounts of Sooner Company and the related balances. Cash, $$1,900$; Prepaid Rent, $$7,400$; Inventory, $$6,000$; Accounts Payable $$4,300$; Common Stock, $$40,000$; Service Revenue, $$25,400$; Sales Revenue, $$14,000$; Salaries Expense, $$8,200$; Accounts Receivable, $$6,100$; Land, $$60,000$; Cost of Goods Sold, $$10,000$; Deferred Revenue, $$2,300$; Retained Earnings, $$34,800$; Supplies Expense, $$9,400.$

Required:

Prepare a preliminary balance sheet for Sooner Company.

Prepare a preliminary income statement for Sooner Company.