How to complete the following statements using the information provided?

The following transactions apply to Ozark Sales for Year 1:

1. The business was started when the company received $48,000 from the issue of common stock.
2. Purchased equipment inventory of $174,500 on account.
3. Sold equipment for $190,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $115,500.
4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales.
5. Paid the sales tax to the state agency on $140,500 of the sales.
6. On September 1, Year 1, borrowed $19,500 from the local bank. The note had a 7 percent interest rate and matured on March 1, Year 2.
7. Paid $5,400 for warranty repairs during the year.
8. Paid operating expenses of $56,000 for the year.
9. Paid $124,100 of accounts payable.
10. Recorded accrued interest on the note issued in transaction no. 6.

\begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ OZARK SALES } \\ \multicolumn{2}{|c|}{ Income Statement } \\ \hline Sales revenue & & \\ \hline Cost of goods sold & & \\ \hline Gross margin & & \\ \hline Expenses & & \\ \hline Operating expenses & & \\ \hline Warranty expense & & \\ \hline & & \\ \hline Total expenses & & \\ \hline Operating income & & \\ \hline Interest expense & & 0 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ OZARK SALES } \\ \hline \multicolumn{2}{|c|}{ As of December 31, Year 1 } \\ \hline Assets & & \\ \hline Cash & & \\ \hline Merchandise inventory & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline Accounts payable & & \\ \hline Sales tax payable & & \\ \hline Warranty payable & & \\ \hline Notes payable & & \\ \hline Interest payable & & \\ \hline & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Stockholders' equity & & \\ \hline Common stock & & \\ \hline Retained earnings & & \\ \hline & & \\ \hline Total liabilities and stockholders' equity & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ OZARK SALES } \\ \hline \multicolumn{2}{|c|}{ For the Year Ended December 31, Year 1 } \\ \hline Cash flows from operating activities: & & \\ \hline Inflow from customers & & \\ \hline Outflow to purchase inventory & & \\ \hline Outflow for expenses & & \\ \hline Outflow for sales tax & & \\ \hline \hline & & \\ \hline \hline & & \\ \hline & & \\ \hline Net cash flows from operating activities & & \\ \hline Cash flows from investing activities: & & \\ \hline Cash flows from financing activities & & \\ \hline Inflow from stock issue & & \\ \hline Inflow from loan & & \\ \hline & & \\ \hline Net cash flows from financing activities & & \\ \hline Net change in cash & & \\ \hline Plus: Beginning cash balance & & \\ \hline Ending cash balance & & \\ \hline \end{tabular}