P Required information The following information applies to the questions displayed below) Jordon Company began operations on January 1. Year 1, by issuing common stock for $39,000 cash During Year 1, Jordan received $68,000 cash from revenue and incurred costs that required $50,000 of cash payments Required Prepare a GAAP-based income statemerit and balance sheet for Jordon Company for Year under the following independent scenario .. Jordan is a promoter of rock concerts. The $50,000 was paid to provide a rock concert that produced the revenue Complete this question by entering your answer in the tabs below. Income Statement Balance Sheet Required information [The following information applies to the questions displayed below) Jordan Company began operations on January 1, Year 1, by issuing common stock for $39,000 cash. During Year 1. Jordan received $68,000 cash from revenue and incurred costs that required $50,000 of cash payments. Prepare a GAAP-based income statement and balance sheet for Jordan Company for Year 1, under the following independent scenario: b. Jordan is in the car rental business. The $50,000 was paid to purchase automobiles. The automobiles were purchased on January 1. Year 1, and have four-year useful lives, with no expected salvage value. Jordan uses straight-line depreciation. The revenue was generated by leasing the automobiles Complete this question by entering your answer in the tabs below. Income Statement Balance Sheet Prenare a balance sheet (Amounts to be deducted should be indicated with a minus sign.) {The following information applies to the questions displayed below) Jordon Company began operations on January 1 Year 1, by issuing common stock for $39,000 cash During Year 1, Jordan received $68,000 cash from revenue and incurred costs that required $50,000 of cash payments Prepare a GAAP based income statement and balance sheet for Jordan Company for Year 1 under the following independent scenario c. Jordan is a manufacturing company. The $50,000 was paid to purchase the following items (1) Poid $3,600 cash to purchase materials that were used to make products during the year. (2) Paid S1,820 cash for wages of factory workers who made products during the year (3) Paid $27580 cash for salaries of sales and administrative employees (4) Pald $17000 cash to purchase manufacturing equipment. The equipment was used solely to make products It had a three-year life and a $2,300 salvage value. The company uses straight line depreciation (5) During Year 1, Jordan started and completed 2.400 units of product. The revenue was earned when Jordan sold 2,100 units of product to its customers Complete this question by entering your answer in the tabs below. Income Statement Balance Sheet Prepare an Income Statement. (Round your intermediate calculations to 2 decimal places.) JORDAN COMPANY