For this week$$s assignment, you are required to read the lecture notes and review the supporting resources, then complete the below financial statements from the information provided. Please support your analysis with at least $2$ references. All assignments must be in the APA format.

Scenario $1$: The following are balance sheet accounts for ABC Event Company for end of year $($December $31,20$XX$).$ Please note that: $($the company paid $$2,500$ in cash for the equipment and financed the remaining $$6,500$ with a loan from the bank.$)$

Accounts payable $ $6,500$

Accounts receivable $4,800$

Cash $1,500$

Equipment $9,000$

Equipment Software $500$

Notes payable $6,500$

Owner$$s equity $?$

Required:

Find the missing account balance.

Prepare a simplified balance sheet from the information. Consider the ABC Event Company scenario in the lecture notes.

Provide a brief description of your analysis.

Scenario $2$: Income Statement for ABC Event Company

ABC Event Company's food and beverage costs for the year were $$35,000.$ Labor costs for part time and full$-$time employees were $$65,000.$ Catering services generated $$120,000.$ Other operating costs came to $$12,500.$

Required:

Prepare an income statement for year$-$end December $31,20$XX for ABC Event Company according to our lecture notes.

Provide a brief description of your analysis.

Scenario $3$: Prepare a Statement of Cash Flows using information given in the balance sheet and income statement.

Required:

Calculate the total cash inflows, cash outflows, and increase amount in cash for ABC Event Company.

Prepare a statement of cash flows for year$-$end December $31,20$XX$.$ Consider the ABC Event Company scenario in the lecture notes.

Provide a brief description of your analysis.

Assume $$2,800$ as cash invested by owner