You are starting a small store to sell specialtyovelty items You borrow 10000 from your uncle to start the business. No interest or principle due. Full amount is due in 10 years. You give 2000 of your own money to start the business You spend 1000 for a computer cash register combo which should last for 5 years You spend 2000 for dcor and display equipment which should last for 5 years You spend 7000 for your initial inventory First year you sell 60000 worth of sales you buy 25000 more in inventory You end the year with inventory of 5000 You hire help for the store and pay 5000 Rent is 500 per month Utilities are 200 per month Advertising is 300 per month You collect the cash for all sales by the end of the month You are required to pay for all inventory when ordered Income taxes are 35% You pay taxes as income is earned Sales tax is not included in this analysis CREATE AN INCOME STATEMENT and BALANCE SHEET