Tax expense 25000 Notes Payable 90000 Account Receivable 60000 COGS 206250 Notes Receivable 27500 Salary Expense 23750Land 156250 Bonds Payable 93750 Rent Expense 18750 Sales 338750 Accounts Payable 75000 Tax Payable 38750 Cash 42500 Common Stock 231250 Building 262500 Inventory 45000 Required: Single Income Statment