just a little help with the income statement and balance sheet please and thank you!

120000 3 4. 5 $5300 Jessie Nelson recently graduated from UCF with a degree in computer science. Instead of working for a large company, she decided to open her own consulting business, specializing in Web-page designs, computer systems recommendations to small clients, and computer systems installation 1 $10,000 of her Savings to start the business, receiving 1.000 shares of $1 par common stock. The following information is provided about her 2020 business activities and year-end adjustments 10000 1000 000 2 terme principal dug January 1, 2021, interese patron 10% per year, with interest paid semiannually on on January 1, 2020, Nelson borrowed $20.000 from the Citizens National Bank, under the following December interest payments as scheduled decemband December 31 (10.5% cash payment is toy peronths). Nelson made both the June & 51. Se mes = fuoco on January 1, Nelson paid $25.000 cash for Computers and other high-tech office equipment. Because of the rapid obsolescence of computek-retated equipment, she estimates that the equipment has a. ftree-year life with an estimated 51,000 salvage value. Nelson uses straight-line depreciation (Hint Depreciation expense = (cost - sairage value)/useful life]. CO (25k - IK); Byr > SK 125.000 On January 1, Nelson signed a one-year lease on office space, as $900 per month, with rent due on the first day of each month Nelson made the rent payments during 2020 as scheduled. 900 X 12. mas no you Because Nelson's business is a service business, she has no inventory. Clients buy any needed equipment directly from other vendors. During 2020, Nelson purchased $3.500.in miscellaneous office supplies, accounting for the purchase as a current asset - Supplies Nelson billed clients for $190.000 in services performed during 2020, and she collected $105,000 Nelson's services were not subject to sales tax Nelson incurred $26.000 in advertising expenses during 2020. She owed $8,000 of that amount to the advertising agency at December 31, 2020. She intends to pay the balance owed in January 2021 20638 18k Nelson incurred $22.000 n miscellaneous administrative expenses during the year. Of these, she owed $5,000 at year-end. Nelson paid federal income taxes of $40,000 Nelson paid herself a $1,800 salary per monto (Ignore payroll taxes and other payroll-related expenses.) 1800 x 12 mcb = 2 Goo Information for year-end adjustments 11. Of the $3,500 in supplies purchased in 2020, supplies costing $750 were still on hand at December 31, 2020 3500 - 750 - 2250 At December 31, 2020, Nelson decided that one accounts receivable for $6,500 would not be collected, and that the remaining accounts receivable would be collected in 2021. The $6,500 accounts receivable was charged to bad debt expense. At year-end, Nelson recorded straight-line depreciason on the assets purchased in #3 COS* -ik) Byr = 8 Sorongth unes (her first year of operations), 6. 6 1906 15. 7 8 2-SER VAC 9. 10. 12. 13 Required: Prepare the income statement and beat sheet for Nelson Consulting as of December 31, 2020