USING THE FOLLOWING DATA FOR HOWLEY INTERNATIONAL, PREPARE AN INCOME STATEMENT AND A BALANCE SHEET AT DECEMBER 31, 2020 As the accountant for Howley International, it is your job to prepare the company's income statement and balance sheet. Use the accounts listed below to construct the statements. Assume that the tax rate is 25%. S. 120.600 1,500,000 61,200 45,000 24,600 1,896,000 400,000 1,053,000 126,600 List of Accounts for Howley International Accounts Receivable Land Notes Receivable Insurance Expenses 54,000 Accounts Payable Interest Expenses Common Stock Depreciation Net Sales Ending Inventory Notes Payable (Long-Term) 210,000 Beginning inventory Retained Earnings Advertising Expense Cash Salaries Short-Term Notes Payable 15,600 Merchandise Purchased (for inventory) Buildings Rent Utilities Equipment & Vehicles Goodwill Bonds Payable 154,800 1,459,800 90,000 72.000 180,000 316,800 1,050,000 13,800 8,400 1,066,000 90,000 60,000 3 to search