Prepare income statement and financial position. 1. The Owner Invested $600,000 cash to start A business. 2. A company spends $200,000 for an office building. 3. On August 1, 2022, paid two years' insurance in advance, $10,800. 4. Purchased supplies cash for $60000. 5. Receipts from customers for services performed $200,000. 6. Incurred utility expenses for month on account, $5000. 7. Recorded revenue earned and received $100,000. 8. Paid utility bill previously accrued. 9. Paid $10,000 cash for radio advertising. 10. Received $200,000 cash advance from a customer for future services. By year end 80 percent were earned. 11. Jan,1 Purchased used car for $50,000 on credit for use in business. Estimated salvage value is $10000. The company expects to use car for 4 years. 12. Paid creditor $30,000 cash on balance owed. 13. Performed services for customers on account $80,000. 14. signs a three-month loan to help finance increases in inventory. The loan is signed on November 1 in the amount of $80,000 with annual interest of 6%. 15. Temporary Employees At Corporation is paid $18,000 cash every Friday for working Monday through Friday. The calendar year accounting period ends on Tuesday, December 31. Additional Information on Dec,31. 1. The company completed work on a project during January that was not yet billed to the client. The client will be charged $3,100. 2. Utilities expenses of $3000 are unpaid. 3. A physical count of supplies revealed $1000 on hand on December 31.and net realized value is $1800. 4. The office buildings are being depreciated at 25% per year. And The Recoverable Amount Is $140,000. 5. Accrued revenue amounted 10,000. 6. Accrued insurance expenses 20,000. 7. Car was sold for $35,000.