create a balance sheet and an income statement with this information.

3 Sum of DR/CR Type 1 Account ASSET LIABILITY OWNERS' EQUITY Grand Total 100-Cash $ 136,275,240.00 $ 136,275,240.00 5 115---Accounts Receivable $ 4,250,800.00 $ 4,250,800.00 7 116--Allowance for Doubtful Accounts $ (34,500.00) $ (34,500.00) 3 120---Inventory $ 288,000.00 $ 288,000.00 130---Prepaid Insurance $ 60,000.00 $ 60,000.00 0135---Prepaid Rent $ 55,000.00 $ 55,000.00 1 140---Investments $ 275,000.00 $ 275,000.00 2 160--Property, Plant, & Equipment $ 8,000,000.00 $ 8,000,000.00 3165 ---Accumulated Depreciation $ (456,000.00) $ (456,000.00 4 170---Patent $ 195,000.00 $ 195,000.00 5 200--Accounts Payable $ (180,000.00) $ (180,000.00) 6 205-Salary Payable $ (65,000.00) $ (65,000.00) 7 210---Unearned Revenue $ (50,500.00) $ (50,500.00) 8 230---Notes Payable (short-term) $ (90,000.00) $ (90,000.00) 9 240---Bonds Payable $ (1,600,000.00) $ (1,600,000.00) o 250---Common Stock $ (7,440,000.00) $ (7,440,000.00) 1 255--Additional Paid-in-Capital - Common Stock $ (9,000,000.00) $ (9,000,000.00) 2 260---Preferred Stock $ (30,000.00) $ (30,000.00) 3 265---Additional Paid-in-Capital - Preferred Stock $ (450,000.00) $ (450,000.00) 4 270---Retained Earnings $ (18,915,240.00) $ (18,915,240.00) 5 275--Treasury Stock $ 500,000.00 $ 500,000.00 6 300-Sales $ (144,798,300.00) $ (144,798,300.00) 7 307-Sales Discounts $ 6,000.00 $ 6,000.00 8 308---Sales Returns & Allowances $ 12,000.00 $ 12,000.00 9 320---Interest Revenue $ (35,000.00) $ (35,000.00) 0 325---Dividend Revenue $ (3,600.00) $ (3,600.00) 1 330---Gain on Sale of Equipment $ (45,000.00) $ (45,000.00) 2 400---Cost of Goods Sold $ 32,016,100.00 $ 32,016,100.00 3 410---Salary Expense $ 314,950.00 $ 314,950.00 4 415--Salary Administrative Expenses $ 491,350.00 $ 491,350.00 5 420---Utilities Expense $ 50,000.00 $ 50,000.00 6 425--Rent Expense $ 100,000.00 $ 100,000.00 7 430-Depreciation Expense $ 160,000.00 $ 160,000.00 8 440--Amortization Expense - Patent $ 70,000.00 $ 70,000.00 9 460---Bad Debt Expense $ 1,200.00 $ 1,200.00 0 470---Loss on Sale of Land $ 65,000.00 $ 65,000.00 1 480---Interest Expense $ 7,500.00 $ 7,500.00 2 Grand Total $ 148,908,540.00 $ (1,985,500.00 $ (146,923,040.00 $ 3