QUESTION 2 a) Madam Rose started the Golden Roses Enterprise on January 2020. Below is the information provided by Madam Roses. Please help Madam Rose to prepare the Income Statement and Balance Sheets for Golden Roses Enterprise. *(Not include Current Month Profit)

ACCOUNT RM Account payable 2,000

Account receivables 8,000

Accrued expenses 1,200

Accumulated depreciation - Equipment 46,000

Cash 5,000

Common Stock 15,000

Cost of good sold 120,000

Depreciation Expenses 5,000

Equipment 48,000

Inventory 3,000

Long term debt 50,000

Marketable securities 12,000

Prepaid expenses 5,000

Retained earnings* (11,950)

Sales 120,000

Selling Expenses 15,000

Tax Expenses 1,250