Homework 2-6 This is the financial information for Jack & Jill's Water Bucket Company for the year ended December 31,20X0. The company issued 1,000 new shares of common stock for $10,000 on May 1, 20X0 and declared and beginning Retained Earnings was $100,600. Prepare the Financial Statements the Accounts Payable 60,000 Interest Expense 8,000 Accounts Receivable 50,000 Note Payable, Long-Term 80,000 Advertising Expense 8,000 Rent Expense 24,000 Cash 50,000 Retained Earnings 142,000 Common Stock (10,000 Shares) 100,000 Sales 200,000 Cost of Sales 72,000 Tax Expense 18,600 Inventory 60,000 Utilities Expense 4,000 Land Security Deposit 200,000 Wage Expense 20,0001 28,000 Wages Payable 6,000