Please help me with this problem

1. The business was started when the company recelved $49,500 from the issue of common stock 2. Purchased equipment Inventory of $175.000 on account. 3. Sold equipment for $201,500 cash (not including sales tax). Sales tax of 6 percent is collected when the merchandise is sold. The merchandise had a cost of $126,500 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $151,500 of the sales 6. On September 1, Year 1, borrowed $21,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2 7. Paid $6,000 for warranty repairs during the year. 8. Paid operating expenses of $53,000 for the year. 9. Paid $126,000 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. b-1. Prepare the income statement for Year 1. (Round your answers to the nearest dollar amount. Income Statement For the Year E ember 31, Year 1 Total operating expenses ses Total Prepare the balance sheet for Year 1. (Round your answers to the nearest dollar amount.) OZARK SALES Balance Sheet As of December 31, Year 1 Assets b-2. Prepare the balance sheet for Year 1. (Round your answers to the nearest dollar amount.) K SALES Balance Shoet of Liabilities Total liabilities Total