Is this the correct way to illustrate the financial data through the Income Statement and Balance Sheet? Are there any corrections I need to make?

Your Company Trial Balance 12/31/2014 Balance Db Cr Account Name Accounts Paya ble 3,000 Accounts Receiva ble 5,000 Accrued Expenses 15,000 Accumulated Depr. Equipment 5,000 Building 100,000 Capital Stock 250,000 Cash 50,000 Cost of Goods Sold 10,000 50,000 Equipment Income Tax Paya ble 1,000 Land 50,000 Long Term Debt 75,000 Long Term Investments 100,000 Marketing Expenses 8,000 Merchandise Inventory 2,500 PrePaid Expenses 3,000 Rent Expenses 1,500 Research &Development Expense 2,000 Retained Earnings 18,500 Salary Expenses 5,000 Sales 25,000 Sales Expenses 5,000 Travel Expenses 500 392,500 $ 392,500 B C E F H My Company Income Statement For The Year Ending in December 31, 2014 Debit Account Name Credit Fees Earned Less: Cost of Goods Sold $25,000 10,000 15,000 Gross Margin Less Expenses: Marketing Expenses Rent Expenses Research and Development Expenses Salary Expenses Sales Expenses Travel Expenses Total Expenses 8,000 1,500 2,000 5,000 5,000 500 22,000 -7,000 Net Loss D IVI My Company Balance Sheet For The Year Ending in December 31, 2014 Liabilities Assets Amount Amount Current Liabilities Accounts Payable Accrued Expenses Current Assets Cash $50,000 3,000 Accounts Receivable 5,000 15,000 Merchandise Inventory Income Tax Payable Current Liabilities 2,500 1,000 Prepaid Expenses Total Current Assets 19,000 3,000 Long-Term Debt Total Liabilities 60,500 75,000 $94,000 Investments Owner's Equity Current Investments Long-Term Investments Buildings Net Equipment Land Total Fixed Assets Current Owner's Equity 100,000 100,000 45,000 50,000 $195,000 Capital Stock Retained Earnings 250,000 11,500 261,500 Total Equity Ending Balance of Retained Earnings Total Liabilities and Equity 11,500 Net Equipment 355,500 Equipment Less: Accumulated Depreciation Net Equipment 50,000 -5,000 45,000 Total Assets 355,500