please solve part one and part two

Saved 2 VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 2025 Net sales $3,540,000 Cost of goods sold 2,486,000 Gross profit 1,054.000 Expenses Operating expenses 961,000 Depreciation expense 36,000 LOSB on sale of land o Interest expense 21.000 Income tax expense 8,600 Total expenses 1,026,600 Net Income 27,400 2024 $3,066,000 1.956,000 1.110,000 Part 1 of 2 29 points 864,000 30,000 8,600 18.000 $1.000 971,600 138,400 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 eBook 2025 2024 2023 References $210,000 84.000 134,000 14,600 $192.000 87,000 111.000 12.600 $150,000 66,000 141.000 16.720 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-tern assets Investment in bonds Land Equipment Less Accumulated depreciation Total assets Liabilities and stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-tern liabilities Notes payable Stockholders' equity Comon stock Retained earnings Total liabilities and stockholders' equity 111.000 306.000 306,000 (114,000 51,051,600 111,000 216,000 275.000 178.0001 $927,600 246,000 216,000 40,000 $777.720 $139,800 10.800 12,600 572,000 7,200 16.000 5127,520 3,600 14,600 231.000 460.000 291,000 306,000 122.400 $1,051,600 306.000 233,400 5927,600 106,000 95,000 $777.720 CS 2 3 of 4 Next >