Problem 3: Today is December 30, 2012. We will start a staple gun manufacturing company. To start the company we needed $20,000 to purchase equipment. We need $5,000 for operating funds. Thus to start the company we needed a total of $25,000. We obtained the money to start the business by investing $15,000 from our pocket and by borrowing the remaining $10,000 at a 5 percent simple interest rate. In addition to paying the interest payments on the loan each year, we will pay off $1,000 of the amount that we owe on the loan each year (the first payment on the loan will be made one year from today). The firm will sell 200,000 staplers each year at a price of $3.00 each. Cost of producing the staplers will be $2.00 each. In addition, sales and administrative expenses will be $0.18125 per stapler. All sales are cash sales. All operating expenses are cash operating expenses. The machine will wear out buy $2,000 per year. The company is in a 10 percent tax bracket. One-fourth of the firm's net income will be paid out to the owners as a dividend and the other three-fourths of the firms net income will be retained within the firm. A. Create a balance sheet for December 31, 2012. B. Create an income statement for the ycar ending December 31, 2013. C. Create a statement of cash flows for the year ending December 31, 2013. D. Create a statement of retained earnings for the year ending December 31, 2013. E. Create a balance sheet for December 31, 2013. F. Create an income statement for the year ending December 31, 2014 G. Create a statement of retained earnings for the year ending December 31, 2014. H. Create a statement of cash flows for the year ending December 31, 2014 1. Create a balance sheet for December 31, 2014