Slingshot Corporation begins operations in Year 1 and has an initial balance sheet as follows: The company purchases and resells widgets Cash 5,000,000 Note Payable: 2,000,000 Building 10,000,000 Common Stock 13,000,000 Total Assets: 15,000,000 Total Liab + OE 15,000,000 During the year the following transactions take place: On 2/1/Y1 purchases 100 Widgets for $500 each On 2/15/Y1 purchases 300 Widgets for $600 each On 2/18/Y1 purchases 200 Widgets for $650 each On 3/1/Y1 sells 250 Widgets for the listed sales price of $1,000 each on credit. The company uses the LIFO method for inventory. Additionally Bad debt expense is accrued at a rate of 1% of credit sales. On 4/1/Y1 the company uses excess cash to repurchase $2,000,000 of Treasury stock (assume passage of the Inflation Reduction Act). On 12/31/Y1 the company accrues interest on the note payable (5% simple interest for one year) that will be paid in Year 2. Required Create a basic Balance Sheet and Income Statement for Year 1 below