CASH	$9,928
SUPPLIES	$3,600
DEPRECIATION EXPENSE, BUILDING	$3,000
SALES	$245,000
BUILDING, NET OF ACCUMULATED DEPRECIATION	$305,000
COST OF GOODS SOLD	$120,000
INSURANCE EXPENSE	$1,425
INTEREST EXPENSE	$1,200
PATENT	$10,200
ACCOUNTS PAYABLE	$2,500
ACCOUNTS RECEIVABLE	$10,800
COMMON SHARES DEC 31, 2021	$80,367
WAGES EXPENSE	$17,500
RETAINED EARNINGS BALANCE DEC 31, 2021	$80,540
SUPPLIES EXPENSE	$900
SHORT TERM LOAN	$2,330
LONG TERM NOTES PAYABLE	$124,060
DIVIDENDS ISSUED IN 2022	$26,000
TAX RATE	25%

1. USE THE ABOVE DATA MAKE INCOME STATEMENT (INCLUDING THE DISPOSITION OF NET INCOME) FOR THE PERIOD ENDED DEC 31, 2022 FOR H&H BAGELS (5 MARKS)
2. USE THE ABOVE DATA TO MAKE BALANCE SHEET FOR DEC 31, 2022 FOR H&H BAGELS. HINT: ENSURE YOU CONSIDER THE IMPACT OF THE RETAINED EARNINGS FROM YOUR INCOME STATEMENT. (5 MARKS)