step by step explanation and show work please

The following balance sheet and income statement for Central Manufacturing Corporation will be needed for the next three questions: Balance Sheet Income Statement Assets: $1,500 Cash Sales Call credit) $57,500 Cost of Goods Sold (33,500 Accounts Receivable 8,000 7,500 Inventories 24,000 Operating Expenses (20,000) Land 15,000 14,000 Other Fixed Assets Depreciation 1,000 3,000 Liabilities & Owners' Equity Interest Expense 450 3,800 2,550 Accounts Payable 5,400 Long Term Debt Taxes 850 30,000 Common Stock 6,800 Retained Earnings