Scenario: You have been hired as a manager for a family-owned agribusiness that specializes in producing and selling organic fruits and vegetables, in addition to a pumpkin patch called Bernbeck Pumpkin Patch. The company has been in operation for the past three years and has experienced steady growth. The owner is interested in evaluating the company's financial performance to make informed decisions for future investments. Using the financial data provided below, prepare an income statement and balance sheet for the company for the year ending December 31, 2022. Leave any unused lines blank. Make sure your work is legible, or it will not be graded. Financial Data: Accounts Payable = $25,000 Accounts Receivable = $50,000 Accrued Expenses = $8,750 Advances = $0 Interest Expense = $16,765 Inventory $75,000 Land $350,000 Miscellaneous expenses = $3,025 Mortgage $185,000 No returns or allowances Bad Debt = $1,450 Cash/Checking = $75,000 Common Stock $179,974 Notes receivable = $0 Cost of goods sold for Pumpkin patch = $13,500 Office expenses = $740 Organic fruits and vegetables sales = $457,000 Other Assets = $0 Other Revenue = $5000 Cost of Organic Produce = $65,000 Decrease in Accounts payable = $5000 Decrease in accrued expenses = $5000 Delivery/Freight expense = $24,300 Depreciation on Equipment = $6000 Depreciation on Processing/Shipping Facilities $20,000 Discounts of $20,000 Equipment $60,000 Full-time salary expense = $120,000 Important notes: no Change in Common Stock Increase in Accounts receivable = $2500 Insurance expense = $13,200 Owner's Draw = $65,000 Owner's Equity (Beginning of Year) = $503,918 Part-time salary expense - $26,520 Processing/Shipping Facilities - $200,000 Promotion expense = $8,500 Pumpkin patch sales = $63,000 Utility expense = $16,300 Retained Earnings = $385,276 Taxes $43,368 = Balance Sheet for Bembeck Pumpkin Patch for the year ended December 31, 2022 S $ Assets Current Assets Total Current Assets Fixed assets Total Fixed Assets Total Assets Liabilities Current Liabilities Total Current Liabilities Long-Term Liabilities Total Long-Term Liabilities Total Liabilities Owner's Equity Owner-Invested Capital: Total Owner's Equity Total Liabilties and Owner's Equity Income Statement for Bernbeck Pumpkin Patch for the year ended December 31, 2022 Sales: Gross Sales Net Sales Cost of Goods Sold: Total Cost of Goods Sold Gross Profit (Margin) Operating Expenses: Total Operating Expenses Net Operating Income Net Income Before Taxes Net Income After Taxes