Given the following balances, prepare for each scenario below, the Profit and Loss Statement or Income Statement; and the Balance Sheet or Statement of Financial Situation. Exercise 3 The company "El Tercero, S.A." presents the following balances as of August 31, 200X with which it is requested to prepare an Income Statement and a Statement of Financial Situation. The company began operations on May 2 of the same year. ACCOUNT BALANCE Investments in permanent securities $ 180 Miscellaneous creditors 80 Cost of sales 450 Documents receivable 65 Organization expenses 40 Mortgages payable 470 Fixed Cash Fund 10 Transport equipment 150 Share capital 1,500 Warehouse 370 Suppliers 110 Administration expenses 115 Installation costs 70 Banks 350 Sales 600 Documents payable 230 Selling expenses 150 Office furniture and equipment 250 Computer equipment 90 Building 700