Read the information below and then fill in the proper items needed for the Balance Sheet as well as the Profit and Loss Statement. Please note, you will need to represent ALL information on your documents and categorize each area as needed. (10 points) 'Retreats-R-Us Properties' "Retreats-R-Us Properties' is a small eco-friendly resort located on a tiny island in Eleuthera, in The Bahamas. The resort consists of 10 freestanding structures that make up the resort. There is also a shared dining space and a small 'event' space- an outdoor terrace overlooking the ocean. The resort attracts both transient guests as well as small groups (business retreats, wellness. retreats, family reunions). Considering the information given below, create a profit and loss statement for the resort. Please note you will need to represent ALL information on your sheets and categorize each item. The resort is located on a hilltop with an ocean view spanning 10 acres and is worth $987,000. For its guests, the resort owns numerous different non-motorized 'ocean toys' such as kayaks, paddleboards, snorkel gear, surfboards, etc. - these are valued at $17,000. The resort owns two speed-boats to ferry guests back and forth. Each boat is worth $30,000 individually. Each resort's building which includes multiple structures is worth $78,900. Currently, the resort is hosting a mindful meditation and yoga retreat on the property. In total, the group has paid $15,000 for the retreat. The group still owes $5,000 to the resort for this booking. In order to host this retreat, the resort had to hire a teacher. She is owed $2,500. Currently, the resort has $12,000 cash on hand. Finally, the lodge has retained profits of $200,00 from prior years. and Shared capital of $340,000. Last year, the resort generated revenues of $1,450,000. Currently, the resort employs 5 people that that account for $250,000 worth of payroll. They also employ one person who handles all the marketing and social media relations for the resort. Their salary is $50,000. They incurred $274,000 of other expenses directly related to sales. Other operating expenses included depreciation of $41,000 and insurance costs of $21,000. Finally, they were taxed at 40% of their net profit Complete the balance sheet and profit and loss statement below & indicate WHICH items you have included in each category. You can do this by listing items for each category-shown in the first category box in blue as an example. Keep the category titles, (i.e. Long Term Assets), in boxes - just add your text below each one. As needed on the P&L Statement, show formulas and your calculations inside the boxes as well.