Fort Road Foxtrots adjusted trial balance for December 2018 is given. Prepare Income Statement and Balance sheet. Inventory $ 6,500 Common stock 45,000 Cash 16,550 Operating expenses 1,350 Notes payable 600 Interest expense 900 Depreciation expense 1,200 Net sales 12,800 Accounts receivable 9,600 Accounts payable 4,800 Long-term debt 55,000 Cost of goods sold 5,750 Buildings and equipment 122,000 Accumulated depreciation 34,000 Taxes 1,440 Retained earnings 15,250

Please provide typed response and well explained. Thank you