Land $100000$

Equipment $40000$

Prepaid Insurance $2000$

Inventory $($Store Items$)20000$

Cash $12000$

AR $4000$

Short term Bank Loan $80000$

Long term bank loan $45000$

AP $15000$

Common Stock $83000$

Convenience Store Sales $120000$

Fuel Sales $300000$

Retained Earnings $1500$

Cost of Fuel Sold $220000$

Cost of Store Items Sold $70000$

Interest $5000$

Salaries and Wages $50000$

Utilities $30000$

Note Receivable $2000$

Note Payable $1500$

Rent $24000$

Insurance $6000$

Equipment Depreciation $5000$

Assume a tax rate of $25\%$

Create a balance sheet and income statement