You need to make one balance sheet and one income statement fill it in with info provided

1. First construct format for a Balance Sheet and one for an Income Statement 2. Complete (fill in both statements from the numbers below : USE TEXT EXAMPLES AND DEFINITIONS FOR BOTH STATEMENTS Equity $418,000 Long Term Debt $200,000 Cash and cash equivalents $190,000 Net Income (excess revenue over expenses) $120,000 Total Operating Expenses $1,885,000 Inventories $25,000 Land $100,000 Medical and Surgical Supplies $600,000 Depreciation $40,000 Therapy Services $860,000 Accounts Receivable(net) $250,000 Equipment $260.000 Total Operating Revenue $2,000,000 Income From Operations $115,000 Interest Income $5,000 Prepaid Insurance $5000 Total Current Assets $470,000 Other Professional Services Expense $80,000 Support Services $220,000 Investments $133,000 Total Assets $963,000 General Services Expense $65,000 Total Current Liabilities $345,000 Non Operating Gains(net) $5000 Interest Expense $20,000 Total Liabilities $545,000 Net Property, Plant and Equipment $360,000 Accounts Payable $293,000 Short Term Debt $52,000 1. First construct format for a Balance Sheet and one for an Income Statement 2. Complete (fill in both statements from the numbers below : USE TEXT EXAMPLES AND DEFINITIONS FOR BOTH STATEMENTS Equity $418,000 Long Term Debt $200,000 Cash and cash equivalents $190,000 Net Income (excess revenue over expenses) $120,000 Total Operating Expenses $1,885,000 Inventories $25,000 Land $100,000 Medical and Surgical Supplies $600,000 Depreciation $40,000 Therapy Services $860,000 Accounts Receivable(net) $250,000 Equipment $260.000 Total Operating Revenue $2,000,000 Income From Operations $115,000 Interest Income $5,000 Prepaid Insurance $5000 Total Current Assets $470,000 Other Professional Services Expense $80,000 Support Services $220,000 Investments $133,000 Total Assets $963,000 General Services Expense $65,000 Total Current Liabilities $345,000 Non Operating Gains(net) $5000 Interest Expense $20,000 Total Liabilities $545,000 Net Property, Plant and Equipment $360,000 Accounts Payable $293,000 Short Term Debt $52,000