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Create an Income Statement and Balance Sheet from the information provided below. Also, compute the profit margins on the Income Statement Cost of Goods Sold $ 110,000 Cash $ 10,000 Acct. Payable $ 10,000 Sales $ 175,000 Interest Expense $3,000 Acct. Receivable $ 15,000 Admin. Expense S 20,000 Inventory $ 25,000 $ 26,000 Selling Expense Property, Plant, Equipment $ 50,000 Other Assets $ 12,000 Short-Term Note $ 12,000 Long-Term Debt $ 15,000 Equity $ 55,000 Income Taxes S 8,000