You are required to prepare income statement & Balance sheet from the Financial data of DESCON inc for the year ended March $31$st$,20221$ Distribution Expenses$200,0002$ Power heat and light$245,0003$ Cash in hand$1,000,0004$ Loan from TD bank @ $8\mathrm{.}5\%$ per anam$4,500,0005$ Cost of Material used$$750,0006$ Commission revieved$$1,200,0007$ Bank overdraft$$650,0008$ Inventory$462,0009$ Sales made on cash$$8,958\mathrm{.}00010$ Income tax percentage$35\%11$ Bill Board expenses$$123,50012$ Cash at bank$1,356,00013$ Depreciation on Building $(40\%$ office and $60\%$ factory$)$$$975,00014$ Equipments$$700,00015$ Factory security expenses$$612,50016$ Office stationary expenses$45,69017$ Accounts receiveable$$1,230,00018$ Rent received$1,800,00019$ Sales retuen$$459,00020$ Building$4,400,00021$ Owners equity$9,850,60022$ Administrative expenses$563,00023$ Marketing Expenses$145,00024$ Sales made on credit$9,169,00025$ Wages paid to Labor$1,045,00026$ selling expenses$245,60027$ Accounts payable$1,245,60028$ Free hold premises$$17,066,08$

You are required to prepare income statement & Balance sheet from the Financial data of DESCON Inc for the year ended March $31$st$,2022$

$\backslash$table$[[1,$Distribution Expenses,$$,200,000],[2.,$Power heat and light,$$,245,000],[3,$Cash in hand,$$,1,000,000$