Check my work The following transactions pertain to 2018, the first-year operations of Jordan Company. All inventory was started and completed during 2018. Assume that all transactions are cash transactions. Acquired $4,300 cash by issuing common stock 2. Paid $680 for materials used to produce inventory 3. Paid $1,860 to production workers. 4. Paid $962 rental fee for production equipment. 5. Paid $130 to administrative employees. 6. Paid $116 rental fee for administrative office equipment. 7. Produced 340 units of inventory of which 230 units were sold at a price of $12 each. Required Prepare an income statement and a balance sheet in accordance with GAAP. Complete this question by entering your answer in the tabs below Income StatementBalance Sheet Prepare an income statement in accordance with GAAP. (Do not round your intermediate calculations.)