The company's common stock is traded on an organized stock exchange.

The investment portfolio includes short-term investments valued at $57,000.

Notes Payable consists of two notes:

Note 1: $80,000 face value dated 9/30/18. Principal and interest at 10% are due on 9/30/19.

Note 2: $120,000 face value dated April 30, 2018.

Principal is due in two equal installments of $60,000 plus 10% interest on the unpaid balance and are scheduled for April 30, 2019 and April 30, 2020.

Interest has not been accrued.

Selling and Administrative expenses include $90,000 representing costs incurred in restructuring some operations.

The amount is material.Depreciation expense of $25,000 has not been recorded.

The income tax rate is 25%.

Tax expense has not been accrued.

prepared for income statement, statement of retained and earning and balance sheet.