Need help answering this problem for the balance sheet- cash is wrong and cant figure it out.

Walton Manufacturing Company (CMC) was started when it acquired $91,000 by issuing common stock. During the first year of operations, the company incurred specifically identifiable product costs materials, labor, and overhead amounting to $69,000. CMC also incurred $55,200 of engineering design and planning costs. There was a debate regarding how the design and planning costs should be classified. Advocates of Option 1 belleve that the costs should be classified as general, selling, and administrative costs. Advocates of Option 2 believe it is more appropriate to classify the design and planning costs as product costs. During the year, CMC made 4,600 units of product and sold 3,900 units at a price of $35.00 each. All transactions were cash transactions. Required a-1. Prepare an income statement and balance sheet under option 1 a-2. Prepare an income statement and balance sheet under option2 b. Identify the option that results in financial statements that are more likely to leave a favorable impression on investors and e. Assume that CMC provides an incentive bonus to the company president equal to 11 percent of net income. Compute the amount d. Assume a 35 percent income tax rate. Determine the amount of income tax expense under each of the two options. Identify the creditors. of the bonus under each of the two options. Identify the option that provides the president with the higher bonus option that minimizes the amount of the company's income tax expense. Required A1 Required A1 Required A2 Required A2 Required B Bal Inc Stmt Bal Inc Stmt Prepare a balance sheet for Option 1 WALTON MANUFACTURING COMPANY Balance Sheet Assets 91,000 10,500 Cash Finished goods inventory Total assets 101,500 Equity Common stock 91,000 Total equity 91,000 Required A Inc Stot Required A1 Required A1 Bal Required A2 Inc Stmt Required A2 Bal Required B Re Inc Stmt Prepare a balance sheet for Option 2. WALTON MANUFACTURING COMPANY Balance Sheet Assets Cash Ols 91,000 Finished goods inventory8,900 Total assets S 109,900 Equity S 91,000 Common stock Total equity $ 91,000