Project 3 - 20 points ACTG 3000 This third project requires you to invent a merchandising business. You are required to create the nancial statements for its rst year of operations: 1. Create your company's mum-step income statement for the year ended 12131118. Create the retained earnings statement for the year ended 12131I18. Create the classied balance sheet dated 12131118. Give me a simple sentence about what your business sells. It can be stated before or after the nancial statements. P99!\" Hints and reminders: Make sure the statements 'ow' with each other. Be sure to start the income statement with Net Sales. Be sure to include a line for Operating Income and an item for the Other RevenuelExpense (Interest expense or Interest revenue) section of the income statement. Be sure to include Inventory as a current asset on your balance sheet and 666 on your income statement\" Be sure to include Accumulated Depreciation on the balance sheet if you record Depreciation expense on the income statement. Be sure you have an amount in the common stock account. You are not required to pay dividends. You will be 'making up' amounts. Your business can be as successful as you like. Just make sure your balance sheet balances! Hand in: 1. The three statements you created 2. The sentence describing what your company sells