Part 1 of 3 4.16 points Required information Problem 10-26A (Algo) Service versus manufacturing companies LO 10-4 [The following information applies to the questions displayed below] Baird Company began operations on January 1, Year 1, by issuing common stock for $35,000 cash. During Year 1, Baird received $52,700 cash from revenue and incurred costs that required $38,700 of cash payments. eBook Print References Problem 10-26A (Algo) Part a Required Prepare a GAAP-based income statement and balance sheet for Baird Company for Year 1, under the following independent scenario: a. Baird is a promoter of rock concerts. The $38,700 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