Q$1.$ The most recent financial statements for Bailey Inc. are show below.

$\backslash$table$[[\backslash$table$[[$Statement of Comprehensive$],[$income$],[$Sales$]]],[$Cost of Goods Sold,$5,700],[$Other expenses,$500],[$Taxable Income,$1,000],[$Income tax $(35\%),350],[$Net Income,$650]]$

$\backslash$table$[[$Balance Sheet$],[$Current Assets,$4,000,$Current Liabilities,$2,000],[$Fixed Assets,$8,000,$Long$-$term Liabilities,$3,900],[,,$Equity,$6,100],[$Total$,12,000,,12,000$