S: CLAY COMPANY TRIAL BALANCE JUNE 30, 2018 ACCOUNTS PAYABLE 38,950 ACCOUNTS RECEIVABLE 24,830 ACCUMULATED DEPRECIATION 25,500 CAPITAL 161,350 CASH 7,050 COST OF GOODS SOLD 231,840 DRAWINGS 24,000 EQUIPMENT 151,300 INTEREST EXPENSE 10,400 INVENTORY 88,900 PREPAID INSURANCE 4,800 RENT EXPENSE 48,000 SALARIES EXPENSE 64,600 SALES 475,250 SALES RETURNS and ALLOWANCES 4,690 SELLING EXPENSE 32,910 SUPPLIES 3,800 UTILITIES EXPENSE 3,930 Prepare the Balance Sheet and Income Statement