can you please look at this balance sheet and check the grey and yellow areas. I am having a hard time with this.

AutoSave ON = ) - 5 - Company Overview Template - Saved Q Home Insert Draw Page Layout Formulas Data Review View ? Tell me Share Comments & Cut 11 A Paste LG Copy Calibri (Body) Wrap Text Custom Comma Comma [0] Currency AutoSum Av Format BI UV A E Merge & Center v v % 9 Conditional Format Percent Insert Delete Format Fill v Formatting as Table Currency [0] Clear v Sort & Find & Ideas Filter elect F68 fx C D G M N O Q U W Example: Made payments of $4,000 on outstanding accounts payable 38 1. Sold $2,000 of inventory to customers for $3,000 in cash. 39 2. Purchased $2,500 of new inventory for cash 40 3. Sold $3,500 of inventory to customers on account for $5,500 41 4. During the month, received $3,500 from customers as payments on their accounts 5. Borrowed $20,000 from the bank and issued stock for $5,000 to purchase land for $25,000 for a future warehous 43 6. Paid employees $2,000 for payroll Required: 47 1. Record the January 2020 transactions by adding and subtracting amounts in the rows of the following table in a 48 way that the row totals represent the end of the month balances in the financial statements. (fill in the shaded 49 2. Explain the main characteristics of the balance sheet and the income statement and the relationship between 50 those two statements. Balance at 12/31/19 ransaction Number Example 2 3 5 Total 57 S 5,000 (4,000) 3,000 (2,500) 3,500 58 Receivables 25,000 (2,000) $ 28,000 5,500 59 Inventory 5,50 6,000 (2,000) 2,500 60 Land (3, 500) 3,000 1 Property Plant and Equipment 62 Total Assets 15,000 15,000 $ 26,000 51,500 64 Accounts Payable $ 6,000 (4,000) (3,500) 2,000 $ 500 Note Payable 66 Common Stock 20,000 20,00 20,000 5,000 25,000 Retained Earnings 1,000 68 Total Liabilities and Equity 2,000 3,000 26,000 48,500 69 71 70 Check (must equal zero) (3,000) Income Statement 73 Sales 3,000 5,500 74 Cost of Goods Sold (2,000) 8,500 3,500 1,500 Payroll expenses Net Income 2,000) 1,000 (2,000) 9.000 Requirement 2 Characteristics of a Balance Sheet Topic 1 Assignment template + Ready 112%