From the following information, construct an income statement and balance sheet. Sales Accounts payable Accounts receivable Accruals Cash Common stock par value Cost of goods sold Earnings before income taxes Income taxes Interest expense Inventory Long-term debt Number of shares outstanding Operating expense Plant and equipment Retained earnings $1,000,000 200,000 250,000 50,000 50,000 325,000 600,000 220,000 100,000 80,000 300,000 300,000 100,000 100,000 400,000 125,000