Please complete a balance sheet also.

Required information [The following information applies to the questions displayed below.] Perez Company began operations on January 1, year 1, by issuing common stock for $33,000 cash. During year 1, Perez received $64,800 cash from revenue and incurred costs that required $48,800 of cash payments. Required Prepare a GAAP-based income statement and balance sheet for Perez Company for year 1, for the below scenario a. Perez is a promoter of rock concerts. The $48,800 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 Prepare an Income Statement. PEREZ COMPANY Income Statement for Year 1 $