The following transactions pertain to 2015, the first-year operations of Bailey Company. All inventory was started and completed during 2015. Assume that all transactions are cash transactions.

1.	Acquired $4,500 cash by issuing common stock.
2.	Paid $660 for materials used to produce inventory.
3.	Paid $1,840 to production workers.
4.	Paid $1,244 rental fee for production equipment.
5.	Paid $100 to administrative employees.
6.	Paid $116 rental fee for administrative office equipment.
7.	Produced 360 units of inventory of which 290 units were sold at a price of $13 each.

Required

a-1.

Prepare an income statement. (Do not round intermediate calculations.)

a-2.

Prepare a balance sheet

a-3.	Prepare statement of cash flows. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.)