The company started the year with $4757.54 in Retained Earnings. They paid $100 in Dividends.As your boss left the office to travel to an out of town meeting, they gave you the following information from the company accounts. They asked you to prepare a financial forecast for your company. All values are in thousands of dollars.

1. Prepare a balance and income statement.

Below is my balance and income statement, but I don't know where I went wrong on my balance statement since my assets do not equal liabilities and shareholder's equity. Since my balance sheet is wrong, I know my income statement is wrong as well. Where did I go wrong and how do I fix it?

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Actual 2020 year-end values Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Cost of Goods Sold Depreciation Expense Gross Property Plant & Equipment Income Tax Expense Interest Expense Inventory Long-Term Debt Short-Term Notes Payable Retained Earnings Sales Revenue SG&A Expense 1,296 883 1,141 480 327 4,597 1,146 8,941 330.54 220 2,848 3,277 1,210 5,901 9,130 1,593 2020 Actuals 1,296.00 1,210.00 2,506.00 3,277.00 Bob's Donut Shop Balance Sheet as of the 31st January 2020 Assets 2020 Actuals Liabilities & shareholder's equity Current Assets Current Liabilities Cash 480.00 Accounts payable Accounts receivable 883.00 Short term notes payable Inventory 2,848.00 Total current liabilities Total Current Assests 4,211.00 Long-term debt Property and Equipment Gross Property Plant & Equipment 8,941.00 Total liabilities Less accumulated depreciation 1,141.00 Shareholder's Equity Total Assets 18,504.00 Common Stock Retained earnings Less dividends Total Shareholder's Equity 5,783.00 327.00 5,901.00 100.00 6,128.00 Total liabilities & shareholder's equity 11,911.00 Sales Revenue Bob's Donut Shop Income Sheet as of the 31st January 2020 9,130.00 Expenses Cost of Goods Sold Depreciation expense SG&A expense Interest expense Income tax expense Total expense 4,597.00 1,146.00 1,593.00 220.00 331.00 7,887.00 Net Income 1,243.00