The following transactions apply to Ozark Sales for Year $1$:

The business was started when the company received $$49,000$ from the issue of common stock.

Purchased equipment inventory of $$176,500$ on account.

Sold equipment for $$192,000$ cash $($not including sales tax$).$ Sales tax of $6$ percent is collected when the merchandise is sold. The merchandise had a cost of $$117,000.$

Provided a six$-$month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to $4$ percent of sales.

Paid the sales tax to the state agency on $$142,000$ of the sales.

On September $1,$ Year $1,$ borrowed $$21,500$ from the local bank. The note had a $5$ percent interest rate and matured on March $1,$ Year $2.$

Paid $$5,400$ for warranty repairs during the year.

Paid operating expenses of $$56,000$ for the year.

Paid $$125,100$ of accounts payable.

Recorded accrued interest on the note issued in transaction no$.6.$

b$-1.$ Prepare the income statement for Year $1.$ Note: Round your answers to the nearest dollar amount.

b$-2.$ Prepare the balance sheet for Year $1.$ Note: Round your answers to the nearest dollar amount.

b$-3.$ Prepare the statement of cash flows for Year $1.$ Note: Enter amounts to be deducted and cash outflows with a minus sign. Round your answers to the nearest whole dollar.

c$.$ What is the total amount of current liabilities at December $31,$ Year $1?$ Note: Round your answer to the nearest dollar amount.