Prepare income statements and balance sheets for each of the last six months (January - June).

1. Make your own assumption of the beginning paid-in capital at the beginning of January.

2. Assume that you have purchases and sales both in cash and on credit.

3. Manually generate, or use Excel or other software to generate, four transactions or more for purchases, sales, account receivable and account payable in each of the six months.

4. Please also generate other transactions such as prepaid rent and rent expense, prepaid insurance and insurance expense, wages, interests, commissions, and any other expenses of your own choice.

Product A	Initial	Sales in Cash	Sales in Credit	Purchases	Account receivable	Account Payable	Prepaid Rent	Rent expense	Prepaid insurance	Insurance expense	Wages	Interests	Commissions
Jan	$ 10,000,000.00	$ 6,500,000.00	$ 7,500,000.00	$8,500,000.00	$4,500,000.00	$7,500,000.00	$200,000.00	$50,000.00	$ 10,000.00	$1,500.00	$ 950,000.00	$ 25,000.00	$ 7,500.00
Feb		$ 8,500,000.00	$ 6,500,000.00	$10,500,000.00	$6,500,000.00	$9,500,000.00	$200,000.00	$60,000.00	$ 10,000.00	$1,500.00	$ 950,000.00	$ 25,000.00	$ 10,500.00
Mar		$ 6,000,000.00	$ 7,000,000.00	$6,500,000.00	$7,500,000.00	$5,500,000.00	$200,000.00	$65,000.00	$ 10,000.00	$1,500.00	$ 950,000.00	$ 25,000.00	$ 9,500.00
Apr		$ 6,770,000.00	$ 8,600,000.00	$7,800,000.00	$5,500,000.00	$6,500,000.00	$200,000.00	$70,000.00	$ 10,000.00	$1,500.00	$ 950,000.00	$ 25,000.00	$ 5,500.00
May		$ 7,800,000.00	$ 7,500,000.00	$9,500,000.00	$5,000,000.00	$4,500,000.00	$200,000.00	$55,000.00	$ 10,000.00	$1,500.00	$ 950,000.00	$ 25,000.00	$ 9,500.00
Jun		$ 6,000,000.00	$ 8,000,000.00	$8,800,000.00	$6,500,000.00	$8,000,000.00	$200,000.00	$66,000.00	$ 10,000.00	$1,500.00	$ 950,000.00	$ 25,000.00	$ 10,000.00