Create a complete annual Income Statement with the given Information.

on the need Case Study 1 Below are listed various numbers from financial information of WolfWorx, Inc. Some are from the 2020 Income Statement, some are from the end of year 2020 Balance Sheet, and some are just financial info. They are not in any particular order. Use the information to make an Income Statement and Balance Sheet paper given. WolfWorx uses a calendar year for accounting Retained Earnings increased during the year by $107.000. You may WolfWorx is not in the business of lending money, but did so for a friend and earned some interest. this The firm has never issued Preferred Stock or bonds. info. WolfWorx has issued 50000 shares of stock. Interest earned from loan to friend 1,380 Long-term Machinery Debt 480.000 Property Plant & Equipment 910.000 Accounts Payable 32,000 Federal Income Tax (Paid) 39,980 Accumulated Depreciation -409,500 Depreciation Expense 43.000 Interest Expense 32,000 Common Stock 400,000 Sales 820.000 Land 1,140,000 Cost of Goods Sold 450,000 Inventory 185.000 Cash Operating Expenses 106,000 Accounts Receivable 44,000 Cash 28,500 Current Portion of Long Term Debt 36,000 Long-term Land Debt 610,000 Short-term Notes 55,000 Net Income ?? (calc it!) Preferred Stock 0 Accruals 12,500 Retained Earnings *calculate the Retained Earnings value to make your Balance Sheet balance NOTE: Current portion has already been subtracted from Long Term debts. 13 (10 pts) On one side of the paper provided make a complete annual INCOME STATEMENT