I just want second part done which is preparig income statement.

do not do this question if you will copy paste answer from chegg as that is only balance sheet.

the last picture contains has the reqirement for income statement

Prepare a balance sheet for the fiscal year ending April 30, 2021 based on the following transactions: 1) retained earnings $1,562,046 2) patent royalty 19,030 3) merchandise inventory 2550 4) furniture purchased November 1, 2019 30,000 5) promissory note matured 175,000 6) taxes owed =18,000 + 20% of merchandise inventory 7) insurance bought May 1, 2020 for 2 years 6,500 8) 20% of customer debt not collectible 9) commissions owed 18,600 10) par value: common $175/share 11) customers owe 40,000 12) ending cash balance equals amount from sale of business property 13) preferred stock: shares sold = 410 14) equipment purchased May 1, 2016 250,000 15) office furniture 5 year service life; SLD 16) mortgage on equipment 652,619 17) common stock sold = 625 shares 18) equipment 10 year service life; SLD 19) par value: preferred $200/share 20) supplies owed 15,750 21) Company Y promissory note matured 232,000 22) building purchased May 1, 2017 700,000 23) bond 108,000 24) land sold at 10% over market value; purchased May 1, 2017 @ $750,000 25) building 20 year service life: SLD 26) land value appreciates @ 15%/year 27) charitable causes 250,895 28) equipment owed 90,000 29) salaries owed 120, 179 30) copyright royalty 148,600 31) long-term loan 68246 32( scholarship 90000 II. Prepare an Income Statement based on the following: - gross sales = 2346217 - taxes = 9.3% of net sales - sales expenses = 12092 - building depreciation - 1 year depreciation from Balan ce Sheet - discount on sales = 3% of gross sales - administrative expense = 14598 - cost of goods sold = 3x merchandise inventory from Bal ance Sheet -sales returned = 2.5% gross sales - interest expense = 1 3/4% of net sales - income from other sources = 49876 - depreciation on equipment = 1/2 year depreciation fro m Balance Sheet