Henry Josstick has just started his first accounting course and has prepared the following balance sheet and Income statement fo Omega Corp. Unfortunately, although the data for the Individual items are correct, he is very confused as to whether an item shou In the balance sheet or Income statement and whether it is an asset or liability $ 62 95 Payables Less accumulated depreciation Total current assets Long-term debt Property, plant, and equipment Net fixed assets BALANCE SHEET $ 47 Inventories 132 Receivables Total current liabilities $410 Interest expense 580 Total liabilities Shareholders' equity Total liabilities and shareholders' equity $ 37 $138 Total assets $820 640 50 INCOME STATEMENT Net sales Cost of goods sold Selling, general, and administrative expenses EBIT Debt due for repayment Cash Taxable income Taxes Depreciation Net income $ 37 27 $ 27 24 Prepare the balance sheet and income statement by rearranging the above items. (Be sure to list the assets and llabilities in oro their liquidity. Enter all amounts as positive values.) Assets Answer is not complete. BALANCE SHEET Liabilities and Shareholders' Equity 27 Payables Is 62 Debt due for repayment 95 Cash 47 Inventories OOO oool 37 Receivables IS 84 Total current assets Property, plant, and equipment IS $ $ 184 Total current liabilities 580 Long-term debt 410 Total liabilities 494 Net fixed assets s $ 580 784 Total assets Total liabilities and shareholders'equity IS 494 Answer is not complete. INCOME STATEMENT IS 0 0 Is 0