Section 1 - (25 Marks) - Show Your Work Based on Management Inc.'s year of operations ending June 30, 2021 prepare three separate financial statements: 1. Income Statement (7 Marks) 2. Statement of Changes in Owner's Equity (5 Marks) 3. Balance Sheet (9 Marks) Ensure you include proper titles, dates, categories, and subcategories. The company has a tax rate of 40%. Marketing Inc. Chart of Accounts Debit Credit Accounts receivable $ 85,500 Accumulated depreciation, equipment 30,000 Brad H Investments 112,500 Brad H, capital (July 1, 2020) 150,000 Brad H, withdrawals 60,000 Cash 144,000 COGS 142,500 Consulting Revenue 50,000 Depreciation expense, equipment 15,000 Equipment 120,000 Insurance expense 15,000 Interest expense 11,250 Interest payable 11,250 Inventory 51,000 Land 375,000 Long-term notes payable 375,000 Prepaid insurance 18,000 Property taxes payable 13,500 Tax Expense 43,500 Taxes Payable 43,500 Unearned Revenue 22,500 Utilities expense 22,500 Wages expense 135,000 Wages payable 30,000 Widget Sales 400,000 Totals $ 1,238,250 $ 1,238,250