Emirates Cruise Co$.$ is owned by Dennis Bergkamp. The following information is an alphabetical listing of financial statement items for the company for the year ended May $3120$X$5$:

Account Amount Account Amount

Account Payable $ $49,000$ Interest Expense $ $20,000$

Account Receivable $ $42,000$ Investments by owner $ $6,000$

Advertising Expense $ $3500$ Maintenance Expense $ $83,000$

Cash $ $19,400$ Notes Payable $ $400,000$

Equipment $ $120,000$ Prepaid Insurance $ $1,200$

Food, Fuel and other expenses $ $65,500$ Salaries Expense $ $128,000$

D$.$ Bergkamp, Capital, June $120$X$4$ $ $275,000$ Ships $ $550,000$

D$.$ Bergkamp, Drawings $ $35,000$ Supplies $ $15,000$

Insurance Expense $ $2,400$ Ticket Revenue $ $355,000$

Prepare an Income Statement and Balance Sheet for Emirates Cruise Co$.$