Required information The following information applies to the questions displayed below.) Stuart Company began operations on January 1, year 1, by issuing common stock for $33,000 cash. During year 1, Stuart received $50,800 cash from revenue and incurred costs that required $37,800 of cash payments. Required Prepare a GAAP-based income statement and balance sheet for Stuart Company for year 1, for the below scenario: a. Stuart is a promoter of rock concerts. The $37,800 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. STUART COMPANY Income Statement for Year 1 Accounts payable Accounts receivable Administrative expenses Depreciation expenses Balance Sheet > Operating expenses Sales revenue WELCROUWMUUIMET U CILCITY YUUI SISWELT Income Statement Balance Sheet Prepare an Income Statement. STUART COMPANY Income Statement for Year $ 0 Complete this question by entering your answer in the tabs below. Income Statement Balance Sheet Prepare a Balance Sheet. STUART COMPANY Balance Sheet as of 12/31/Year 1 Assets XX***... LLLLLLLLLLLL LLLLLLLLLLLS Accounts payable Accumulated depreciation Cash Common stock Rental equipment Retained earnings Income Statement Complete this question by entering your answer in the tab Balance Sheet Statement Prepare a Balance Sheet. STUART COMPANY Balance Sheet as of 12/31/Year 1 Assets $ Total assets Equity 0 Accounts payable Accumulated depreciation Cash Common stock