please solve it within 1 hour

Problem #2 (3/10): XYZ Industries bought land and built its plant 10 years ago. Land is not depreciated. The depreciation on the building and plant is calculated using the straight-line method, with a life of 20 years and a salvage value of $2,000,000. The depreciation for the equipment, all of which was purchased at the same time the plant was constructed, is calculated using declining-balance at 10%. Complete the Balance Sheet below. XYZ Industries Balance Sheet (as of June 30, 2016) Assets Liabilities and Owners' Equity Current Assets Current Liabilities Cash 1,950,000 Accounts Payable 1,060,000 Accounts Receivable 950,000 Notes Payable 190,000 Securities 4,100,000 Accrued Expense 850,000 Inventories 1.800,000 Total Current Liabilities 2.100,000 Prepaid Expenses 100,000 Total Current Assets Long-Term Liabilities Mortgage 600,000 Long-Term Assets Long-Term Debt 600,000 Land 550,000 Total Long-Term Liabilities 1,200,000 Building and Plant 5,000,000 Less accumulated depreciation Owners' Equity (Net Worth) Preferred Shares 2,000,000 Equipment 800,000 Common Shares 3,500,000 Less accumulated depreciation Retained Earnings Total Owners' Equity Total Long-Term Assets Total Liabilities and Owners' Equity Total Assets Revenues Sales Cost of Goods Sold Gross Profit Income Statement for XYZ Industries (July 1, 2015 - June 30, 2016) Expenses 9,500,000 Operating Expenses 4.950,000 Depreciation Expense 4,550,000 Interest Expense Total Expenses Net Income Before Taxes Income Taxes (26.5%) Net Income After Taxes 924,006 180,994 350,000 1,455,000 3,095,000 820,175 2,274,825