Prepare in proper form a balance sheet and income statement for 12 month ending December 31, 2017 for ABC Corporation. Please be sure to use account proper heading for both and check your mathematical accuracy. As a bonus, determine, if the business is operating for profit at year end. Any financial advice you can provide based on the business financial? Accounts Balance @ Dec 31, 2017 Cost of Goods Sold $85,000 Utilities $25,700 Salary and Wages Payable $5,700 Accumulated Depreciation - Office $91,700 Bldg Bonds Payable $200,000 Interest Revenue $2,500 Prepaid Insurance $2,720 Unearned Rental Revenue $6,000 Interest Payable $2,700 Salary and Wages Expense $130,000 Sales $500,000 Capital Stock $300,000 Bad Debt Expense $16,200 Accounts Payable $5,000 Interest Receivable $1,400 Merchandise Inventory $45,600 Cash in bank $75,000 Rental Revenue $2,130 Accounts Receivable $105,600 Depreciation $32,480 Supplies (expensed) $28,700 Land $22,000 Building $560,000 Equipment $60,000 Interest expense $7,000 Marketable Securities $33,280 Retained Earnings $124,950 Federal Income Tax $10,000