I need help with my accounting homework. I would appreciate any help I can get with the balance sheet, the template is given. There is no information missing, this is all the information I was given.

Survey of Accounting Comprehensive Simulation Assignment - Financial Statements & Flexible Budget Required: Use the list of transactions on the following page to complete the following: 1. Complete the Horizontal Balance Sheet (excel file available in Canvas) by recording all activity reported by your client (following page). 2. Using the completed Horizontal Balance Sheet, create an Income Statement & Vertical Balance Sheet by using the template provided in the excel file (in Canvas). 3. Create a flexible budget that shows expected revenues and expenses at three different volumes of ice cream bars sold (using the excel template). Show budgeted net income using actual sales in units, assumed increase in sales of 25,000 units and assumed increase in sales of 50,000 units a. This should include a proforma income statement with the following items: i. Sales Revenue at a projected sales price of $3.50 per unit at each volume level ii. Cost of Goods Sold using average purchase price per unit iii. Gross Profit iv. Operating Expenses - Fixed Costs pulled from your Horizontal Balance Sheet v. Net Income vi. Check Figure/Reflection - Does your calculated Net Income agree to your Horizontal Balance Sheet for your actual sales column? Why or why not? 4. Purchases for desired ending inventory of $25,000, assuming your ending inventory from the horizontal balance sheet is your beginning inventory for budgeting purposes. 5. A breakeven calculation (show your work on the excel file) of how many bars you need to sell in order to break even. All of these items should be clearly identifiable in your submitted file.Survey of Accounting Comprehensive Simulation Assignment - Financial Statements & Flexible Budget Transaction List: 1. Acquired $500,000 by signing a note payable with a local bank 2. Sold 25,000 shares of $22 par value Common Stock for $1,500,000 3. Purchased Equipment for $300,00Cycash 4. Purchased 25,000 Units of Inventory on Account at $1.15 per unit 5. Sold 20,000 units at $3.50 on Account 6. Collected $70,000 of Accounts Receivable 7. Paid $17,250 of Accounts Payable 8. Purchased 170,000 Units of Inventory on Account at $1.05 per unit 9. Sold 153,000 units at $3.50 on Account 10. Collected $472,500 of accounts receivable 11. Paid $118,600 of Accounts Payable 12. Purchased 275,000 Units of Inventory on Account at $1.35 per unit 13.Sold 215,000 units at $3.50 on Account 14. Collected $735,000 of accounts receivable 15. Paid $294,150 of Accounts Payable 16. Purchased 300,000 Units of Inventory on Account at $1.15 per unit 17. Record Sales & Marketing Expenses of $30,000 (paid in cash) 18. Record Operating Expenses of $75,708 (paid in cash) 19. Record Wage Expenses of $40,000 (paid in cash) 20. Record Product Line Research & Development Expenses of $150,000 (paid in cash) 21. Record Advertising Expenses of $87,500 (paid in cash) 22. Made the yearly required payment on the note payable. The note carries a 7% interest rate and requires payments of $50,000 plus interest each December 31. 23. Record Yr 1 Depreciation on Equipment with Salvage Value of $38,000 and useful life of 7 Yrs (straight-line depreciation) 24. Declared a $10,000 cash dividend for stockholders 25. Paid a $10,000 cash dividend for stockholdersBalance Sheet Events Assets Liab Equity Income Statement Statement of Cash Flows Cash Acct Rec Inventory Equipment Land Building Accum Depr | Acct Payable Div Payable Notes Payable Common Stock APIC Retained Earnings Revenue Expense Net Income Type Amount 50 CO 12 130 13b 22 24 25 Net Change in Cash Ending BalanceFlexible Budget Actual Units Actual Units Actual Units Sold Sold + 25,000 Sold + 50,000 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Sales & Marketing Operating Costs Wages Research & Dev Exp Advertising Expense Depreciation Exp Interest Expense Net Income Inventory Production Beginning Inventory *use ending inventory from your horizontal balance sheet for beginning inventory for the + Purchases Estimated COGS *actual units at average COGS/unit = Desired Ending Purchases = Breakeven Calculation BE = FC / (CM/Unit)A B C D E F G Income Statement for Year 1 Balance Sheet for Year 1 Sales Revenue Assets Less: Cost of Goods Sold Cash Gross Margin $ Accounts Receivable Inventory Less: Expenses Equipment Sales & Marketing Accumulated Depreciation Operating Costs Total Assets $ Wages Liabilities Research & Dev Exp Accounts Payable Advertising Expense Dividends Payable Depreciation Exp Notes Payable Interest Expense Total Liabilities $ Total Operating Expenses un Stockholders Equity Net Income (Loss) Common Stock 8 Additional Paid in Capital Retained Earnings Total Stockholders Equity $ 23 Total Liabilities and Stockholders Equity 24