INTRODUCTION TO BUSINESS: CHAPTER 17 PREPARING FINANCIAL STATEMENTS HOMEWORK ASSIGNMENT As tihte accountant for Wheatley International, it is your job to prepare the company's income statement and balance sheet, Use the accounts listed below to construct the statements. Assume that the tax rate is List of Accounts for WHEATLEY INTERNATIONAL 120,600 Accounts Receivable Land Notes Receivable Insurance Expenses Accounts Payable Interest Expenses Common Stock Depreciation Net Sales Ending Inventory Notes Payable (Long-Term) Beginning Inventory Retained Earnings Advertising Expense Cash Salaries Short-Term Notes Payable 1,500,000 61,200 54,000 45,000 24,600 1,896,000 400,000 1,053,000 126,600 210,000 154,800 1,459,800 90,000 72,000 180,000 15,600 316,800 1,050,000 13,800 8,400 1,066,000 90,000 Merchandise Purchased (for Inventory) Buildings Rent Utilities Equipment &Vehicles Goodwill Bonds Payable 60,000