On October 1, 2017 An investor purchased 20 shares of stock (100%) from ABC Co. for $800,000 CASH. The par value of the stock was $5,000/share. ABC Company purchased equipment for $90,000; paying $40,000 and financing (through a long-term note) the remaining portion. ABC had the following transactions after 10/1/2017: Sold and delivered services for $320,000. $80,000 of cash was received immediately and the remaining amounts will be received in 2018 ABC was given in cash $10,000 for future services. The services are to be provided to the client in 2018. ABC paid $5,000 for advertising. The advertising was already displayed and incurred. ABC paid $10,000 for miscellaneous supplies. Cash was paid for both. Paid salaries in total of $20,000 for work already done. ABC received a bill for the utilities it had used this past month in the amount of $6,000. ABC declared and paid a dividend of $2,000. The tax rate is 20% but the tax will not be paid until 2018. Prepare a balance sheet and Income Statement in good form for the year-ended 2017 for ABC Co.