[The following information applies to the questions displayed below.]

While working at your computer, you notice Mr. Castle heading toward you. Adding another stack of papers to your overflowing inbox, he says, "I need a profit & loss statement and a balance sheet for November as soon as possible. I haven't seen any financial statements since our former accountant left. As he walks away, Mr. Castle calls over his shoulder, "From now on I'd like a P&L and balance sheet by the first of each month."

Complete Exercise 1.1 by following the steps shown on Pages 56 through 57 All applicable reports prepared in Exercise 1.1 should be exported to Excel using the Go Digital Reports Excel template for Chapter 1.

Using the Profit and Loss (P&L) Statement, Standard for Rock Castle Construction (E1.1.2) that you prepared and exported on Pages 56 to 57, select what the largest single income and expense items are and input their respective balances.(Round your answers to 2 decimal places.)