Can someone help me only make the income statement, balance sheet, and cash flow statement?On January $1^{st},2022,$ Mr$.$ Pane forms Pane in the Glass Window Company by issuing $1,500$ shares of $$7$

par common stock for $$100$ per share. The same day, the company purchased a delivery truck for

$$40,000$ by signing a $5-$year, $6\%$ annual interest rate note payable with a face value of $$40,000.$

Interest is payable on the last day of every calendar year. The truck has an estimated useful life of $10$

years and no salvage value.

On January $2^{nd}$ the company purchased $500$ windows from the manufacturer for $$215$ each and paid in

cash. On January $3^{rd}$ the window manufacturer contacted Pane in the Glass and offered to sell an

additional $60$ windows for $$180$ each. Mr$.$ Pane accepted the offer and paid cash for the additional

windows.

During $2022,$ the company sold $330$ windows on account for $$360$ each. The company uses LIFO

inventory valuation and offers a $2-$year warranty on all windows sold. It expects that $10\%$ of the

windows will have a problem and that on average each window would cost $$90$ to fix. The company

records bad debt expense equal to $5\%$ of credit sales.

The company collects $$95,040$ cash from the credit sales. The company also learns that Big Al$,$ who

purchased two of the windows, has declared bankruptcy and will not pay for his windows. Mr$.$ Pane

decides to write off the accounts receivable related to these two windows.

On November $1^{st},$ Lovers' Lanes Bowling Alley requests that $18$ of their new windows be repaired. The

repairs were covered under warranty and the repairs cost $$75$ for each window.

On the last day of the year, Pane in the Glass pays the interest on the note payable, and records

depreciation expense using straight$-$line depreciation.

Requirements

Prepare journal entries and adjusting entries

Post the journal entries to $T$ accounts

Prepare the adjusted trial balance $($does it balance?$)$

Prepare the following financial statements:

Income statement

Statement of retained earnings

Balance sheet

Statement of cash flows $($operating activities section only$)$

Use your completed financial statements to identify the values for each of the following items.

Be sure to record your final answers on the Group Answer Sheet.

Net income

Gross margin

Cash

Total assets

Cash from operations