Prepare a balance sheet and income statement in proper form, for XYC Corp. No balance sheet was provided. Need Assets, Liabilities, and Stockholder equity. Each individual item from the assignment must be shown individually on the balance sheet. Question was previously answered and did not reflect this*

Health Care Finance Prepare a Balance Sheet and Income Statement, in proper form, for XYC Corp (All Activity takes place within a one month period) Corporation receives $1,000,000 from founding investors. 1) XYC Corp. purchases a building for $750,000 and uses long term debt to finance. 2) XYC purchases equipment for $100,000 and finances with a note payable. 3) XYC bills patients for $150,000 for services rendered. 4) XYC purchases $150,000 of supplies on trade credit. 5) XYC issues payroll for last week: $50,000 6) XYC collects $75,000 of the amount billed under #3 above. 7) XYC pays for $50,000 of the supplies purchased above on trade credit. 8) At the end of the month XYC owes their employees $35,000 of wages. 9) XYC uses $25,000 of the supplies purchased above. 10) XYC ends the month with $125,000 of charges incurred, but not yet billed. 11) The building is depreciated straightline over a 30 year period. 12) The Ultrasound equipment is depreciated straighline over 5 years. 13) The note payable has an interest rate of 6% and the long term debt has an interest rate of 12%. No interest is actually paid, but it is accrued on the books at month end. 14) XYC pays a $5,000 dividend to the shareholders