Required information Problem 1-24A (Algo) Service versus manufacturing companies LO 1-4 [The following information applies to the questions displayed below.] Finch Company began operations on January 1, year 1, by issuing common stock for $37,000 cash. During year 1, Finch received $53,200 cash from revenue and incurred costs that required $37,200 of cash payments. Problem 1-24A (Algo) Part a Required Prepare a GAAP-based income statement and balance sheet for Finch Company for year 1, for the below scenario: a. Finch is a promoter of rock concerts. The $37,200 was paid to provide a rock concert that produced the revenue. Complete this question by entering your answer in the tabs below. Income Statement Balance Sheet Prepare an Income Statement. FINCH COMPANY Income Statement for Year 1