please complete all and give the answers to all questions with explanation, Make sure answer All and explanation, Thank you:)

Part B: Practicing the Math 1. (A) Create financial statements in correct format from the list of items provided. Record on blank sheet of paper. (a) Sort items by statement type, then by category, then by liquidity. (b) Verify that Assets = Liabilities + Equity. If not, something wrong. (B) Answer the following questions from the completed statements: a. Calculate Total Current Assets b. Calculate Total Fixed Assets C. Calculate Total Assets d. Calculate Total Current Liabilities e. Calculate Cost of Goods Sold f. Calculate Gross Profit 1 Accounts Payable $ 3,000 2 Accounts Receivable $ 13,400 3 Accum Depn (Building) $ 7,800 4 Accum Depn (Equipment) $ 5 Accum Depn (Fixtures) $ 3,600 6 Advertising Promotion $ 3,000 7 Beginning Inventory $ 18,000 8 Buildings $ 77,000 9 Cash $ 6,120 10 Contracts Payable $ 6,000 11 Depreciation Expense $ 2,000 12 Ending Inventory $ 18,200 13 Equipment $ 8,000 14 Fixtures $ 17,800 15 Insurance Expense $ 18,000 16 Long Term Note $ 75,000 17 Merchandise Inventory $ 19,200 18 Miscellaneous Expense $ 4,000 19 Notes Payable $ 4,000 20 Owners Equity $ 39,160 21 Payment on Building note $ 34,000 22 Prepaid Expenses $ 2,040 23 Purchases during the year $ 22,000 24 Salaries Expense $ 68,000 25 Salaries Payable $ 5,000 26 Sales $ 178,000 27 Suppliers Expenses $ 7,460 28 Utilities Expense $ 8,000 g. Calculate Total Operating Expenses h. Calculate Net Profit TI i. Which Fixed Asset is likely the "newest" j. What adjustments to incomes statement needed to reflect cash flow See Job Aid for essential Financial Statement Equations: onun Yariable costs Grosso Profit - Fixed Costs = Net Profit