Entrepreneur finance

6. Construct an income statement using the following information: net sales, $500,000; salaries, $100,000; rent, $24,000; COGS, $250,000; utilities, $25,000; payroll taxes, $25,000; insurance, $12,000; and interest expense, $5,450. Make sure that you include gross profit, operating expenses, and net profit. 7. George's Pizzeria has the following information as of December 31, 2012: cash, $2,000; pizza ovens, $25,000; furniture, $12,500; accounts payable, $3,500; notes payable, $12,500; accumulated depreciation, $10,000; wages payable, $1,500; taxes payable, $2,500; and equipment loan, $18,000. Construct a balance sheet for George. Do you think he has a problem with his current balance sheet? If so, what is it? 8. State the stockholders' equity of the Alphabet Corporation if it has a current net profit of $1,500,000, beginning-of-the-period retained earn- ings of $3,675,000, 1 million shares of common stock issued at a par value of $1 per share, and paid-in capital in excess of par of $12.50 per share. 9. State your current cash balance if you have the following information: total cash receipts of $624,000; a cash balance at the end of last year of $60,000; total cash payments of $540,000; cash outflow from invest- ing activities of $100,000; and cash inflows from financial activities of $172,000