make sure assetliability equity

Sparky's Welding, Inc. provided you with the following self-prepared financial statement for the year ending December 31,2018. The statement was prepared by Sparky himself, in hopes of loan to add a line of aluminum welding products. obtaining a bar Sparky's Welding, Inc. Financial Statement For the year ending December 31, 2018 Resources Cash Personal savings Merchandise inventory Shop equipment My investment in the shop 7,000 23,000 53,000 151,000 0,250 Total resources Obligations Owed to suppliers Bank lan College loan Due from customers $334,250 19,250 106,000 4,788 Net resources Resource Inflows Merchandise sales Cash collected from customers Investment by father S189212 290,000 279,000 75,000 $644,000 Resource Outflows Cost of merchandise sold Cash paid to suppliers Insurance expense Rent expense Sales clerk's salary (200,000) (200,750) (10,000) (39,000) S(483,750) Other Welding revenue My salary Shop supplies Income taxes paid 104,000 (50,000) 18,000 500 Total S 413,962 Required: 1. Designate where each item in the financial statement should be properly reported. Your choices are balance sheet (BS), income statement (IS), statement of cash flow (CF) or no statement (N). For each income statement account, further designate each item as a revenue (R) or an expense 2. Prepare a proper balance sheet for Sparky's Welding at December 31, 2018. Sparky's Welding, Inc. provided you with the following self-prepared financial statement for the year ending December 31,2018. The statement was prepared by Sparky himself, in hopes of loan to add a line of aluminum welding products. obtaining a bar Sparky's Welding, Inc. Financial Statement For the year ending December 31, 2018 Resources Cash Personal savings Merchandise inventory Shop equipment My investment in the shop 7,000 23,000 53,000 151,000 0,250 Total resources Obligations Owed to suppliers Bank lan College loan Due from customers $334,250 19,250 106,000 4,788 Net resources Resource Inflows Merchandise sales Cash collected from customers Investment by father S189212 290,000 279,000 75,000 $644,000 Resource Outflows Cost of merchandise sold Cash paid to suppliers Insurance expense Rent expense Sales clerk's salary (200,000) (200,750) (10,000) (39,000) S(483,750) Other Welding revenue My salary Shop supplies Income taxes paid 104,000 (50,000) 18,000 500 Total S 413,962 Required: 1. Designate where each item in the financial statement should be properly reported. Your choices are balance sheet (BS), income statement (IS), statement of cash flow (CF) or no statement (N). For each income statement account, further designate each item as a revenue (R) or an expense 2. Prepare a proper balance sheet for Sparky's Welding at December 31, 2018