MITACL The opening balance sheet for this greenhouse on January 1, 2022, included the following: Cash $40,000, Inventory $20,000, Equipment $50,000 cost, Accounts Payable $10,000, Long Term Bank Loan $40,000 and Equity of $60,000. For the 2022 year, the following income and expenses are projected: sales revenue of $500,000, cost of goods sold of $250,000, depreciation of $12,500, wages of $140,000, utilities of $10,000, rent of $15,000, interest of $5,000 and advertising expenses of $20,000. The Income Statement period is from January 1" to December 315. The debt repayment for the long term loan of $50,000 will be $1,000 monthly principal plus 10% yearly interest