The fiscal year for Hokkaido Company ends on May 31. Results for the year ended May 31, 20X1, included the following (in millions of Japanese yen except for number of shares outstanding):

Cash and cash equivalents	45,000
Cost of goods sold	195,000
Inventories	29,000
Other current assets	6,000
Fixed assets, net	217,000
Net sales	422,000
Receivables	22,000
Debentures	77,000
Research and development expenses	42,000
Administrative and general expenses	65,000
Other income (expenses), net	(12,000)
Capital construction fund*	28,000
Selling and distribution expenses	41,000
Other current liabilities	9,000
Treasury stock	(13,000)
Long-term investments	?
Accounts payable	24,000
Mortgage bonds payable	84,000
Deferred income tax liability	12,000
Redeemable preferred stock	15,000
Common stock, at par (50,000 shares outstanding)	5,000
Paid-in capital in excess of par	102,000
Income tax expense	51,000
Accrued expenses payable	20,000
Retained income	48,000
Intangible assets	21,000

*A noncurrent asset

Prepare in proper form the balance sheet as of May 31, 20X1, and the income statement for the year ended May 31, 20X1. Include the proper amount for long-term investments.