Prepare the financial statements with the following information,

Marne Company manufactures decorative bricks from clay. Your task is to prepare Marne's 2020 financial statements. You will need the following sources of information to complete this task: 1.) Marne's December 31, 2019 balance sheet is provided below. 2.) Marne's 2020 transactions and other pertinent information are provided on subsequent pages. Notes: 1.) Use good form (e.g. proper statement titles, organization). 2.) You may round to the nearest dollar at the financial statement level. 3.) You do not need to calculate Earnings Per Share. 4.) You may abbreviate (e.g. using COGS to denote Cost of Goods Sold). Current Assets: Cash Marne Company Balance Sheet As of December 31, 2019 Current Liabilities: Accounts Payable Total Current Liabilities $ 78,750.00 $ 78,750.00 $387,900.00 Accounts Receivable (gross) $157,500.00 Allowance for Doubtful Accounts $ (15,750.00) Accounts Receivable (net) $141,750.00 Raw Materials Inventory $ 21,600.00 WIP Inventory (Shaping) $ 46,055.00 WIP Inventory (Baking) $ 40,140.00 Finished Goods Inventory $ 24,000.00 Total Inventory Total Current Assets $131,795.00 $661,445.00 Stockholders' Equity: Long-term Assets: Common Stock $160,000.00 Land $112,000.00 Retained Earnings $534,695.00 Total Long Term Assets $112,000.00 Total Stockholders' Equity $694,695.00 Total Assets $773,445.00 Total Liabilities & Equity $773,445.00