Please prepare the income statement and balance sheet

1. Issued 10000 shares valued at $ 1000004 2. Paid insurance premium of $1000 for the coming year 3. Recognized insurance expenses for 6 months from the prepaid insurance premium in 2) above 4. Paid $1000 wages accrued at the end of the previous month 5. Accrued $2000 of wages payable for the current month 6. Received $1000 of interest income from investments 7. Purchased football shoes inventory for $ 10000, $6000 cash was paid to suppliers and the balance will be paid in 30 days. 8. Sold inventory that had cost $1000 to customers for $3000. $500 was received in cash and rest is on account. 9. As the business is low cash and cannot pay its accounts payable on the due date, the accountant has permission to convert the accounts payable balance into a loan payable of $4000.- 10. Interest on the loan 9) will be 15% per year and the loan is due to be paid in 15 months. Write the necessary adjustment for interest accrued on this loan in the first month only. 11. Received cash of $1000 on accounts receivable accrued at the end of the previous month 12. Sold inventory which had cost $1000 for $2000 cash. 13. Accrued $1000 rent at the end of the months. This is payable next month. 14. During the month, the directors declared a cash dividend of $3000, payable next month. Income statement Balance sheet 1. Issued 10000 shares valued at $ 1000004 2. Paid insurance premium of $1000 for the coming year 3. Recognized insurance expenses for 6 months from the prepaid insurance premium in 2) above 4. Paid $1000 wages accrued at the end of the previous month 5. Accrued $2000 of wages payable for the current month 6. Received $1000 of interest income from investments 7. Purchased football shoes inventory for $ 10000, $6000 cash was paid to suppliers and the balance will be paid in 30 days. 8. Sold inventory that had cost $1000 to customers for $3000. $500 was received in cash and rest is on account. 9. As the business is low cash and cannot pay its accounts payable on the due date, the accountant has permission to convert the accounts payable balance into a loan payable of $4000.- 10. Interest on the loan 9) will be 15% per year and the loan is due to be paid in 15 months. Write the necessary adjustment for interest accrued on this loan in the first month only. 11. Received cash of $1000 on accounts receivable accrued at the end of the previous month 12. Sold inventory which had cost $1000 for $2000 cash. 13. Accrued $1000 rent at the end of the months. This is payable next month. 14. During the month, the directors declared a cash dividend of $3000, payable next month. Income statement Balance sheet