Jacob Dougan recently graduated from Yorkville University with a BBA. Jacob was hired as a Finance manager at DoWe Inc. and makes $125,000 per year. Jacob was always an honest and ethical student never cheating on any Learning Activities. As a result, Jacob's manager gave a very important project for to complete. Using the accounts below prepare an Income Statement and Balance Sheet. Then write a brief paragraph on

how the company can improve its profitability.

ACCOUNT Wages Payable

Unearned Revenue

Accounts Payable

Accounts Receivable

Marketing Expense Prepaid Rent

Service Revenue Advertising Expense

Cash

Depreciation Fuel

Interest Expense Marketable Securities

AMOUNT 22,000

10,000

95,000

25,000

97,000 15,000

329,000

33,000

15,000 22,000

5,000 10,000

ACCOUNT

Inventory

Interest Revenue

Land

Accumulated Depreciation Equip

Short term Notes Payable

Mortgage

Tax Payable

Common Stock

Equipment

Goodwill Insurance Expense

Tax Rate

AMOUNT 125,000

18,000

55,000

82,000

490,000

32,000 250,000

350,000

86,000 75,000

40% 175,000