Toby invested $30,000 from her retirement account, borrowed $20,000 from the bank and opened her landscaping business by buying $10,000 in equipment (expected to last 10 years) and $5,000 in inventory (lime, sod, stones, loam, etc.). Set up the balance sheet for this point in the formation. During the year, Toby made $100,000 in sales (30% for cash) and collected $60,000 in AR. She paid $20,000 in wages for a part time employee, sold $3,000 of inventory (included in the total sales of $100,000), paid $2,000 in insurance, paid $8,000 for gas, $1,000 in interest, $1,000 in taxes. She bought $4,000 in job materials (inventory that is used immediately) all on account but paid $1,000 off by year-end. Construct a balance sheet and income statement at this point for the firm.