Use the data given in the Excel Sheet to prepare:

1. Income Statement

2. Financial Position

\begin{tabular}{|c|c|c|} \hline \begin{tabular}{l} ABCV, Corp \\ 11-yenti \\ Adjusted Trial Balance \\ (in thousands) \end{tabular} & & \\ \hline & Debit & Credit \\ \hline Cash & 2,300 & \\ \hline Accounts Receivable & 3,100 & \\ \hline Inventary & 5,600 & \\ \hline Prepaid Insurance & 500 & \\ \hline Supplies & 100 & \\ \hline Equipment & 13,000 & \\ \hline Accumulated Depreciation, Equipment & & 7,000 \\ \hline Building & 28,000 & \\ \hline Accumulated Depreciation, Building & & 10,000 \\ \hline Trucks & 22,000 & \\ \hline Accumulated Depreciation, Truck & & 4,000 \\ \hline Patents & 2,400 & \\ \hline Accounts Payable & & 4,160 \\ \hline Notes Payable & & 10,000 \\ \hline Wages Payable & & 553 \\ \hline Common Stock & & 500 \\ \hline Preferred Stock & & 1,000 \\ \hline Additional Paid-in Capital & & 14,000 \\ \hline Retained Eamings & & 27,806 \\ \hline Dividends & 3,000 & \\ \hline Treasury Stock & 1,000 & \\ \hline Sales Revenue & & 12,400 \\ \hline Gain on Sale of Land & & 600 \\ \hline Depreciation Expense, Admin. Portion of Buildi & 450 & \\ \hline Depreciation Expense, Sales portion of Buldiny & 750 & \\ \hline Depreciation Expense, Delivery Truck (selling) & 200 & \\ \hline Depreciation Expense, Equipment (admin) & 150 & \\ \hline Sales Discounts & 25 & \\ \hline Sales Returns and Allowances & 75 & \\ \hline Cost of Goods Sold & 6,100 & \\ \hline Supplies Expense (selling) & 3 & \\ \hline Insurance Expense (admin) & 5 & \\ \hline Bad Debt Expense (selling) & 7 & \\ \hline Advertising Expense (seling) & 2 & \\ \hline \end{tabular} \begin{tabular}{|lrr|} Amortization Expense, Patent (admin) & 12 & \\ Wages Expense (selling) & 450 & \\ Wages Expense (admin) & 130 & \\ Interest Expense & 2,000 & \\ Income Tax Expense & 660 & \\ & 92.019 & 92.019 \\ \hline \end{tabular}