Sunland Company, a ski tuning and repair shop, opened on November 1, 2021. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2022. Cash Receipts $18,300 Cash Payments Issuance of common shares Payment to purchase repair shop equipment Rent payments to landlord Newspaper advertising payment Utility bill payments Part-time helper's wage payments Income tax payment Cash receipts from ski and snowboard repair services Subtotals Cash balance Totals $9,290 1,190 340 925 2,250 10,600 31,900 50,200 24,595 25,605 $50,200 $50,200 The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The part-time helper is owed $525 at April 30, 2022, for unpaid wages. At April 30, 2022, customers owe Sunland Company $515 for services they have received but have not yet paid for. Prepare an accrual-basis income statement for the 6 months ended April 30, 2022. SUNLAND COMPANY Income Statement For the Six Months Ended April 30, 2022 Revenues Service Revenue 09 32415 Expenses Rent Expense $ 1,190 Advertising Expense 340 Utilities Expense 925 i Income Tax Expense 10,600 i Depreciation Expense 929 i Salaries and Wages Expense 2775 i Total Expenses 16759 Net Income /(Loss) $ 15656 Prepare the April 30, 2022, classified balance sheet. (List Current Assets in order of liquidity.) SUNLAND COMPANY Balance Sheet April 30, 2022 Assets $ $ Liabilities and Stockholders' Equity $ $