Can you help me understand how to do an income sheet and balance sheet with the excel sheet i was given? I am posting what I have so far so if you can check that too that would be awesome but also I dont know how to do the end of the chart that was given.

the blurry pictures dont matter. im just trying to give you an overview of what im doing. all you need is the events that were given to fill out the income and balance sheet that is shown.

LLLL 11 Income Statement Statement of Cash Flows Revenue Expense Net Income Type Amount Net Change in Cash $ Beginning Balances as of Dec 31, Year 1 1.Acquired $550,000 by signing a note payable with a local bank 2. Sold 25,000 shares of $22 Common Stock for $1,500,000 3. Purchased Equipment for $300,000 4. Purchased Inventory on Account - 25,000 Units at $1.15 per unit 5a. Sold 15,000 units at $3.50 on Account 5b. COGS for Sales on Account 6. Collect $70,000 on Account 7. Paid $117.250 of Accounts Payable 8. Purchased Inventory on Account - 170.000 Units at $1.50 per unit 9a. Sold 175,000 units at $3.50 on Account 9b. COGS for Sales on Account 10. Collect $472,500 on Account 11. Paid $218,600 of Accounts Payable 12. Purchased Inventory on Account - 275.000 Units at $1.35 per unit 13a. Sold 200,000 units at $3.50 on Account 13b. COGS for Sales on Account 14. Collect $735,000 on Account 15. Paid $494.150 of Accounts Payable 16. Purchased Inventory on Account - 300.000 Units at $1.15 per unit 17. Paid Sales & Marketing Expenses of $30,000 18. Paid Operating Expenses of $75.708 19. Record Wages Payable of $40,000 20. Paid Product Line Research & Development Expenses of $150.000 21. Paid Advertising Expenses of $87.500 22. Made the yearly required payment on the note payable. The note carries a 7% interest rate and requires payments of $50,000 plus interest each December 31. 23. Record Yr 1 Depreciation on Equipment Purchased in Year 2 with Salvage Value of $38,000 & useful life of 7 Yrs 24. Declared a $10.000 cash dividend for stockholders 25. Paid a $10,000 cash dividend for stockholders Balance at end of Yr 2 NE OB LLLLLL CIFIWE ODO LEO CE 1 L TU QUE KELL BRAND 13 DO 11 14100 DORIS TE TA 1 TUDI 000 LIBRE 5 1 bos.co 3 RO DECIMA TO