Please complete a balance sheet

[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. Prepare a GAAP-based income statement and balance sheet for Perez Company for year 1, for the below scenario: c. Perez is a manufacturing company. The $48,800 was paid to purchase the following items: (1) Paid $3,100 cash to purchase materials that were used to make products during the year. (2) Paid $1,750 cash for wages of factory workers who made products during the year. (3) Paid $27,750 cash for salaries of sales and administrative employees. (4) Paid $16,200 cash to purchase manufacturing equipment. The equipment was used solely to make products. It had a three-year life and a $2,400 salvage value. The company uses straight-line depreciation. (5) During year 1, Lang started and completed 2,100 units of product. The revenue was earned when Lang sold 1,650 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. PEREZ COMPANY Income Statement for Year 1 S