XYZ Company showed the following accounts as of end of December, 2019 Salaries and wages 360,000 Sales 1,000,000 Purchase discount 10,000 Purchases 200,000 Merchandise inventory, beginning 20,000 Merchandise inventory, end 50,000 Cash 300,000 Allowance for doubtful accounts 10,000 Equipment 500,000 Building 300,000 Accumulated depreciation equipment & building 80,000 Depreciation 40,000 Marketable securities 45,000 Long term investments 100,000 Prepaid expenses Copyright Goodwill Common stock Treasury stock Retained Earnings Net income after tax Rent expense Telephone expense Income tax Accrued expenses Accounts payable ? 160,000 40,000 25,000 150,000 100,000 700,000 10,000 30,000 30% 150,000 500,000 Other long term liabilities 197,000 Bonds payable due in 2022 250,000 Short term notes payable 25,000 Investments due in Dec 2020 50,000 Additional paid in capital 100,000 Bonds payable due in Dec 2020 150,000 Accounts Recevable 620,000 Income tax payable 30,000 Diviidends 70,000 Sales returns and allowances 100,000 Requirements: Prepare the following financial statements for the year ended Dec 31, 2019 in good form: 1. Statement of Financial Condition 2. Statement of Financial Performance